RNC Capital Management LLC grew its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 156.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 127,031 shares of the aerospace company’s stock after buying an additional 77,538 shares during the period. Lockheed Martin comprises 2.7% of RNC Capital Management LLC’s holdings, making the stock its 14th biggest position. RNC Capital Management LLC’s holdings in Lockheed Martin were worth $38,130,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. PFG Advisors purchased a new position in shares of Lockheed Martin during the 4th quarter valued at about $886,000. California Public Employees Retirement System lifted its position in shares of Lockheed Martin by 40.6% during the 4th quarter. California Public Employees Retirement System now owns 1,294,842 shares of the aerospace company’s stock valued at $339,041,000 after buying an additional 373,997 shares in the last quarter. Schulhoff & Co. Inc. lifted its position in shares of Lockheed Martin by 1.6% during the 4th quarter. Schulhoff & Co. Inc. now owns 13,088 shares of the aerospace company’s stock valued at $3,427,000 after buying an additional 205 shares in the last quarter. EFG Asset Management Americas Corp. lifted its position in shares of Lockheed Martin by 70.7% during the 1st quarter. EFG Asset Management Americas Corp. now owns 3,059 shares of the aerospace company’s stock valued at $918,000 after buying an additional 1,267 shares in the last quarter. Finally, Eastern Bank lifted its position in shares of Lockheed Martin by 0.6% during the 4th quarter. Eastern Bank now owns 11,919 shares of the aerospace company’s stock valued at $3,120,000 after buying an additional 74 shares in the last quarter. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

LMT opened at $314.26 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.12 and a debt-to-equity ratio of 8.70. The company has a market cap of $88.80 billion, a price-to-earnings ratio of 17.61, a P/E/G ratio of 2.33 and a beta of 1.01. Lockheed Martin Co. has a 52 week low of $241.18 and a 52 week high of $361.99.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 29th. The aerospace company reported $4.39 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $4.39. The firm had revenue of $14.41 billion during the quarter, compared to the consensus estimate of $13.75 billion. Lockheed Martin had a return on equity of 726.78% and a net margin of 9.39%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.25) EPS. On average, equities research analysts expect that Lockheed Martin Co. will post 19.46 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were paid a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Thursday, February 28th. Lockheed Martin’s dividend payout ratio is presently 49.30%.

In other Lockheed Martin news, insider Michele A. Evans sold 7,690 shares of the business’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $298.78, for a total transaction of $2,297,618.20. Following the transaction, the insider now owns 7,690 shares in the company, valued at approximately $2,297,618.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Marillyn A. Hewson sold 59,434 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $306.60, for a total value of $18,222,464.40. Following the transaction, the chairman now owns 109,531 shares in the company, valued at approximately $33,582,204.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,186 shares of company stock valued at $26,010,927. 0.35% of the stock is owned by company insiders.

A number of research analysts have recently weighed in on the company. Zacks Investment Research cut Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 14th. ValuEngine downgraded Lockheed Martin from a “hold” rating to a “sell” rating in a report on Tuesday, December 25th. Bank of America reissued a “buy” rating and issued a $390.00 target price on shares of Lockheed Martin in a report on Wednesday, January 30th. Jefferies Financial Group reissued a “hold” rating and issued a $313.00 target price on shares of Lockheed Martin in a report on Tuesday, February 5th. Finally, Susquehanna Bancshares began coverage on Lockheed Martin in a report on Thursday, January 10th. They issued a “positive” rating and a $321.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $350.00.

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About Lockheed Martin

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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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