Lee Danner & Bass Inc. Acquires New Position in Lockheed Martin Co. (NYSE:LMT)

Lee Danner & Bass Inc. bought a new stake in shares of Lockheed Martin Co. (NYSE:LMT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 120 shares of the aerospace company’s stock, valued at approximately $58,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vinva Investment Management Ltd grew its holdings in Lockheed Martin by 3.0% during the 3rd quarter. Vinva Investment Management Ltd now owns 656 shares of the aerospace company’s stock valued at $382,000 after buying an additional 19 shares in the last quarter. Widmann Financial Services Inc. grew its holdings 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 grew its holdings in shares of Lockheed Martin by 2.0% during the fourth quarter. CFS Investment Advisory Services LLC now owns 1,091 shares of the aerospace company’s stock worth $530,000 after purchasing an additional 21 shares in the last quarter. Crewe Advisors LLC grew its holdings in shares of Lockheed Martin by 4.5% during the third quarter. Crewe Advisors LLC now owns 515 shares of the aerospace company’s stock worth $301,000 after purchasing an additional 22 shares in the last quarter. Finally, Wynn Capital LLC grew its holdings in shares of Lockheed Martin by 1.0% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LMT shares. Susquehanna cut their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, January 29th. Citigroup decreased their target price on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. StockNews.com downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. UBS Group decreased their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Finally, Barclays decreased their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $554.20.

Lockheed Martin Trading Down 5.7 %

NYSE:LMT 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 firm has a 50 day moving average of $460.94 and a 200 day moving average of $514.87. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The stock has a market capitalization of $103.63 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last posted its 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%. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business 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 $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.00%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Insiders Place Their Bets

In other news, VP Harry Edward Paul III sold 707 shares of the 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 in the company, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was 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 owns 2,000 shares in the company, valued at $884,840. The trade was a 61.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.14% of the company’s stock.

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.