Stenger Family Office LLC Acquires New Holdings in Lockheed Martin Co. (NYSE:LMT)

Stenger Family Office LLC bought a new position in Lockheed Martin Co. (NYSE:LMT) in the 4th quarter, Holdings Channel.com reports. The fund bought 2,951 shares of the aerospace company’s stock, valued at approximately $1,434,000.

Several other hedge funds also recently modified their holdings of the business. Morse Asset Management Inc raised its stake in shares of Lockheed Martin by 1.0% in the 3rd quarter. Morse Asset Management Inc now owns 3,058 shares of the aerospace company’s stock valued at $1,788,000 after acquiring an additional 31 shares in the last quarter. Tudor Financial Inc. bought a new position in shares of Lockheed Martin in the third quarter valued at approximately $557,000. Anchor Investment Management LLC lifted its stake in shares of Lockheed Martin by 8.4% in the third quarter. Anchor Investment Management LLC now owns 4,125 shares of the aerospace company’s stock worth $2,411,000 after buying an additional 320 shares during the last quarter. Fulcrum Equity Management boosted its holdings in shares of Lockheed Martin by 4.7% during the 3rd quarter. Fulcrum Equity Management now owns 900 shares of the aerospace company’s stock worth $526,000 after buying an additional 40 shares during the period. Finally, Sculati Wealth Management LLC bought a new stake in shares of Lockheed Martin during the 3rd quarter worth $258,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Down 1.2 %

NYSE LMT opened at $469.64 on Wednesday. Lockheed Martin Co. has a 1-year low of $418.88 and a 1-year high of $618.95. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The stock’s 50 day moving average is $450.97 and its two-hundred day moving average is $499.22. The company has a market capitalization of $110.17 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Equities analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were given a $3.30 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.81%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Insiders Place Their Bets

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the sale, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. This represents a 61.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LMT. Melius Research lowered shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. StockNews.com downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. UBS Group reduced their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada lowered shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $550.00 to $480.00 in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $536.60.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.