Lockheed Martin Co. (NYSE:LMT) Shares Acquired by Summit Global Investments

Summit Global Investments raised its position in shares of Lockheed Martin Co. (NYSE:LMT) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,799 shares of the aerospace company’s stock after purchasing an additional 411 shares during the period. Summit Global Investments’ holdings in Lockheed Martin were worth $8,163,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LMT. Prospera Private Wealth LLC acquired a new position in Lockheed Martin during the 3rd quarter valued at about $99,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Lockheed Martin in the 3rd quarter worth approximately $7,039,000. King Luther Capital Management Corp lifted its stake in shares of Lockheed Martin by 1.1% in the 3rd quarter. King Luther Capital Management Corp now owns 7,652 shares of the aerospace company’s stock worth $4,473,000 after acquiring an additional 85 shares during the period. Trustmark National Bank Trust Department lifted its stake in shares of Lockheed Martin by 5.9% in the 3rd quarter. Trustmark National Bank Trust Department now owns 665 shares of the aerospace company’s stock worth $389,000 after acquiring an additional 37 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of Lockheed Martin by 9.1% in the 3rd quarter. Pacer Advisors Inc. now owns 27,577 shares of the aerospace company’s stock worth $16,120,000 after acquiring an additional 2,298 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 5.7 %

LMT stock opened at $440.26 on Friday. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95. The company’s 50 day simple moving average is $460.94 and its 200-day simple moving average is $515.23. 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 firm has a market capitalization of $103.63 billion, a P/E ratio of 19.78, a P/E/G ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data 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%. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is presently 59.30%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. UBS Group reduced their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley reduced their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. 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. StockNews.com downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Susquehanna dropped their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus price target of $554.20.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction that occurred on 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 $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction that occurred on 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 $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 three months, insiders have sold 7,133 shares of company stock valued at $3,155,916. Corporate insiders own 0.14% of the company’s stock.

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.