Summit Financial LLC Buys 344 Shares of Lockheed Martin Co. (NYSE:LMT)

Summit Financial LLC grew its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 7.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,863 shares of the aerospace company’s stock after acquiring an additional 344 shares during the period. Summit Financial LLC’s holdings in Lockheed Martin were worth $2,363,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Arete Wealth Advisors LLC bought a new position in Lockheed Martin during the 3rd quarter worth about $1,840,000. Edgestream Partners L.P. boosted its stake in shares of Lockheed Martin by 15.7% during the third quarter. Edgestream Partners L.P. now owns 3,667 shares of the aerospace company’s stock valued at $2,144,000 after purchasing an additional 497 shares in the last quarter. Erste Asset Management GmbH purchased a new position in Lockheed Martin during the third quarter valued at approximately $82,000. Alerus Financial NA bought a new position in Lockheed Martin in the third quarter worth approximately $202,000. Finally, Kestra Investment Management LLC purchased a new stake in Lockheed Martin during the third quarter worth $498,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Activity at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction on Wednesday, February 26th. The shares were 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 approximately $1,008,265.58. This trade represents a 23.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is owned by company insiders.

Lockheed Martin Stock Performance

NYSE LMT opened at $446.81 on Tuesday. The firm has a market capitalization of $105.17 billion, a P/E ratio of 20.07, a PEG ratio of 2.07 and a beta of 0.43. The stock has a 50-day simple moving average of $455.61 and a two-hundred day simple moving average of $509.05. 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 fifty-two week low of $419.70 and a fifty-two week high of $618.95.

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 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%. On average, equities analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Wall Street Analyst Weigh In

Several research firms have recently commented on LMT. Royal Bank of Canada lowered Lockheed Martin from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $550.00 to $480.00 in a research report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price target for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. 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. Wells Fargo & Company restated an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. Finally, Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $539.53.

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