Paradigm Financial Partners LLC purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,798 shares of the aerospace company’s stock, valued at approximately $1,780,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Man Group plc grew its stake in shares of Lockheed Martin by 63.0% in the 3rd quarter. Man Group plc now owns 70,260 shares of the aerospace company’s stock valued at $24,307,000 after buying an additional 27,160 shares during the period. Sheaff Brock Investment Advisors LLC grew its stake in shares of Lockheed Martin by 277.3% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 26,952 shares of the aerospace company’s stock valued at $9,324,000 after buying an additional 19,808 shares during the period. California Public Employees Retirement System grew its stake in shares of Lockheed Martin by 40.6% in 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 during the period. Schulhoff & Co. Inc. grew its stake in shares of Lockheed Martin by 1.6% in 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 during the period. Finally, Eastern Bank grew its stake in shares of Lockheed Martin by 0.6% in 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 during the period. Hedge funds and other institutional investors own 78.34% of the company’s stock.
Shares of LMT stock opened at $298.51 on Friday. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.12 and a quick ratio of 0.91. Lockheed Martin Co. has a 52 week low of $241.18 and a 52 week high of $361.99. The company has a market capitalization of $85.74 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 2.24 and a beta of 1.02.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 29th. The aerospace company reported $4.39 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $4.39. Lockheed Martin had a net margin of 9.39% and a return on equity of 726.78%. The company had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $13.75 billion. During the same quarter last year, the company posted ($2.25) EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts forecast that Lockheed Martin Co. will post 19.42 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be issued a $2.20 dividend. The ex-dividend date is Thursday, February 28th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.95%. Lockheed Martin’s payout ratio is 49.30%.
Several analysts have recently weighed in on the stock. ValuEngine cut shares of Lockheed Martin from a “hold” rating to a “sell” rating in a research note on Wednesday, February 20th. Morgan Stanley increased their price target on shares of Lockheed Martin from $300.00 to $324.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 13th. Jefferies Financial Group reissued a “hold” rating and issued a $313.00 price target on shares of Lockheed Martin in a research note on Tuesday, February 5th. Bank of America reissued a “buy” rating and issued a $390.00 price target on shares of Lockheed Martin in a research note on Wednesday, January 30th. Finally, Credit Suisse Group reissued a “hold” rating and issued a $297.00 price target on shares of Lockheed Martin in a research note on Wednesday, January 23rd. One 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 stock. The company currently has an average rating of “Buy” and a consensus target price of $350.00.
In other news, Director Ilene S. Gordon acquired 750 shares of Lockheed Martin stock in a transaction dated Monday, February 25th. The shares were acquired at an average cost of $306.04 per share, for a total transaction of $229,530.00. Following the acquisition, the director now owns 750 shares of the company’s stock, valued at $229,530. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Marillyn A. Hewson sold 59,434 shares of the firm’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $306.60, for a total transaction of $18,222,464.40. Following the completion of the sale, the chairman now owns 109,531 shares in the company, valued at $33,582,204.60. The disclosure for this sale can be found here. Insiders sold a total of 85,186 shares of company stock worth $26,010,927 over the last 90 days. Company insiders own 0.35% of the company’s stock.
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Lockheed Martin 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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
See Also: Hedge Funds
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