Dearborn Partners LLC Boosts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Dearborn Partners LLC raised its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,339 shares of the aerospace company’s stock after buying an additional 28 shares during the quarter. Dearborn Partners LLC’s holdings in Lockheed Martin were worth $1,137,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new position in shares of Lockheed Martin in the third quarter worth approximately $40,000. Assetmark Inc. raised its holdings in Lockheed Martin by 1.3% in the 3rd quarter. Assetmark Inc. now owns 1,470 shares of the aerospace company’s stock worth $859,000 after acquiring an additional 19 shares during the last quarter. Atria Investments Inc lifted its position in Lockheed Martin by 4.1% in the 3rd quarter. Atria Investments Inc now owns 21,385 shares of the aerospace company’s stock valued at $12,501,000 after acquiring an additional 843 shares in the last quarter. Axxcess Wealth Management LLC boosted its stake in Lockheed Martin by 20.1% during the 3rd quarter. Axxcess Wealth Management LLC now owns 6,997 shares of the aerospace company’s stock valued at $4,090,000 after purchasing an additional 1,171 shares during the last quarter. Finally, Baker Avenue Asset Management LP increased its holdings in shares of Lockheed Martin by 130.2% in the 3rd quarter. Baker Avenue Asset Management LP now owns 1,411 shares of the aerospace company’s stock worth $825,000 after purchasing an additional 798 shares in the last quarter. 74.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LMT. StockNews.com downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Barclays lowered their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Susquehanna reduced their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, January 29th. UBS Group decreased their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $554.20.

Lockheed Martin Trading Up 1.0 %

NYSE:LMT opened at $478.42 on Tuesday. The firm has a market capitalization of $112.61 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. 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 business has a fifty day moving average price of $462.79 and a 200-day moving average price of $520.80. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Sell-side analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is currently 59.30%.

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.