Everett Harris & Co. CA Acquires 779 Shares of Lockheed Martin Co. (NYSE:LMT)

Everett Harris & Co. CA boosted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.3% in the fourth quarter, HoldingsChannel reports. The firm owned 60,123 shares of the aerospace company’s stock after purchasing an additional 779 shares during the quarter. Everett Harris & Co. CA’s holdings in Lockheed Martin were worth $27,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of LMT. Herold Advisors Inc. grew its stake in Lockheed Martin by 8.6% in the 3rd quarter. Herold Advisors Inc. now owns 3,448 shares of the aerospace company’s stock valued at $1,410,000 after buying an additional 274 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Lockheed Martin by 3.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,088 shares of the aerospace company’s stock worth $8,624,000 after acquiring an additional 770 shares during the last quarter. Alethea Capital Management LLC bought a new stake in shares of Lockheed Martin during the third quarter worth approximately $415,000. Meridian Wealth Management LLC increased its stake in shares of Lockheed Martin by 149.0% during the third quarter. Meridian Wealth Management LLC now owns 11,960 shares of the aerospace company’s stock worth $4,892,000 after purchasing an additional 7,156 shares during the period. Finally, Central Bank & Trust Co. increased its stake in shares of Lockheed Martin by 1.6% during the third quarter. Central Bank & Trust Co. now owns 3,305 shares of the aerospace company’s stock worth $1,352,000 after purchasing an additional 51 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lockheed Martin

In other news, insider Gregory M. Ulmer sold 6,204 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the completion of the sale, the insider now directly owns 12,604 shares of the company’s stock, valued at $5,434,718.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Gregory M. Ulmer sold 6,204 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the transaction, the insider now owns 12,604 shares of the company’s stock, valued at approximately $5,434,718.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,874 shares of company stock worth $7,249,946. 0.17% of the stock is owned by corporate insiders.

Lockheed Martin Price Performance

Shares of LMT traded up $10.94 during mid-day trading on Wednesday, reaching $456.93. The company had a trading volume of 1,277,347 shares, compared to its average volume of 1,176,464. The company has a market capitalization of $109.89 billion, a price-to-earnings ratio of 16.59, a P/E/G ratio of 4.08 and a beta of 0.48. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.03 and a current ratio of 1.21. The company’s 50 day simple moving average is $433.46 and its 200 day simple moving average is $438.35. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $508.10.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 23rd. The aerospace company reported $7.90 earnings per share for the quarter, beating analysts’ consensus estimates of $7.26 by $0.64. The firm had revenue of $18.87 billion for the quarter, compared to analyst estimates of $17.96 billion. Lockheed Martin had a net margin of 10.24% and a return on equity of 79.91%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $7.79 earnings per share. Analysts expect that Lockheed Martin Co. will post 26.13 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 1st will be given a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.76%. The ex-dividend date is Thursday, February 29th. Lockheed Martin’s payout ratio is currently 45.74%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Morgan Stanley decreased their price objective on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. Royal Bank of Canada decreased their price target on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 24th. Citigroup decreased their target price on shares of Lockheed Martin from $540.00 to $508.00 and set a “buy” rating on the stock in a research report on Wednesday, January 24th. Susquehanna dropped their price target on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research report on Wednesday, January 24th. Finally, UBS Group reduced their price target on Lockheed Martin from $488.00 to $475.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $491.92.

Lockheed Martin Company Profile

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.