Patten & Patten Inc. TN Has $1.01 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Patten & Patten Inc. TN grew its position in Lockheed Martin Co. (NYSE:LMT) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,087 shares of the aerospace company’s stock after purchasing an additional 72 shares during the period. Patten & Patten Inc. TN’s holdings in Lockheed Martin were worth $1,014,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Proficio Capital Partners LLC boosted its holdings in shares of Lockheed Martin by 53,784.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock worth $600,412,000 after purchasing an additional 1,233,275 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lockheed Martin by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after purchasing an additional 1,132,461 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Lockheed Martin by 1,239.6% during the fourth quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after purchasing an additional 507,312 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Lockheed Martin by 8.5% during the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares during the period. Finally, FMR LLC boosted its holdings in shares of Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 0.2 %

Shares of NYSE:LMT opened at $467.07 on Monday. The company’s fifty day moving average is $461.39 and its 200-day moving average is $518.19. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95. The company has a market capitalization of $109.94 billion, a PE ratio of 20.98, 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 earnings per share (EPS) 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 research analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.83%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Analyst Ratings Changes

LMT has been the subject of several research reports. Royal Bank of Canada decreased their price target on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Morgan Stanley cut their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Citigroup cut their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Finally, Barclays cut their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $554.20.

Insiders Place Their Bets

In other Lockheed Martin news, 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 sale, the vice president now directly 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value 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. In the last three months, insiders sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is currently owned by insiders.

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.