Summit Securities Group LLC Takes Position in Lockheed Martin Co. (NYSE:LMT)

Summit Securities Group LLC purchased a new position in Lockheed Martin Co. (NYSE:LMT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,400 shares of the aerospace company’s stock, valued at approximately $680,000.

Other large investors have also added to or reduced their stakes in the company. Vinva Investment Management Ltd increased its stake in shares of Lockheed Martin by 3.0% during the 3rd quarter. Vinva Investment Management Ltd now owns 656 shares of the aerospace company’s stock worth $382,000 after purchasing an additional 19 shares in the last quarter. Widmann Financial Services Inc. lifted its position in shares of Lockheed Martin by 2.1% during the third quarter. Widmann Financial Services Inc. now owns 968 shares of the aerospace company’s stock worth $566,000 after purchasing an additional 20 shares in the last quarter. CFS Investment Advisory Services LLC lifted its holdings in Lockheed Martin by 2.0% in the 4th quarter. CFS Investment Advisory Services LLC now owns 1,091 shares of the aerospace company’s stock worth $530,000 after buying an additional 21 shares in the last quarter. Wynn Capital LLC increased its holdings in Lockheed Martin by 1.0% during the 4th quarter. Wynn Capital LLC now owns 2,185 shares of the aerospace company’s stock worth $1,062,000 after purchasing an additional 22 shares during the last quarter. Finally, PBMares Wealth Management LLC increased its position in shares of Lockheed Martin by 0.6% in the 4th quarter. PBMares Wealth Management LLC now owns 3,745 shares of the aerospace company’s stock worth $1,820,000 after purchasing an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $441.41 on Friday. The business has a 50-day moving average of $456.49 and a two-hundred day moving average of $510.30. Lockheed Martin Co. has a fifty-two week low of $419.70 and a fifty-two week high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a market capitalization of $103.90 billion, a P/E ratio of 19.83, a P/E/G ratio of 2.07 and a beta of 0.43.

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

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were given a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Insider Transactions at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction on 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 completion of the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This trade represents a 61.63 % 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 worth $3,155,916. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

LMT has been the topic of several research reports. UBS Group dropped their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Barclays dropped their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. JPMorgan Chase & Co. reduced their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Finally, Melius downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and an average price target of $539.53.

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.