Lockheed Martin Co. (NYSE:LMT) Stock Position Increased by Summit Financial LLC

Summit Financial LLC boosted its position in Lockheed Martin Co. (NYSE:LMT) by 37.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,458 shares of the aerospace company’s stock after purchasing an additional 674 shares during the quarter. Summit Financial LLC’s holdings in Lockheed Martin were worth $1,118,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Private Trust Co. NA lifted its position in Lockheed Martin by 1.6% in the 1st quarter. Private Trust Co. NA now owns 5,166 shares of the aerospace company’s stock valued at $2,350,000 after purchasing an additional 79 shares during the last quarter. Family Legacy Inc. lifted its position in Lockheed Martin by 1.4% in the 1st quarter. Family Legacy Inc. now owns 8,294 shares of the aerospace company’s stock valued at $3,773,000 after purchasing an additional 113 shares during the last quarter. Berkshire Bank lifted its position in Lockheed Martin by 10.9% in the 1st quarter. Berkshire Bank now owns 1,307 shares of the aerospace company’s stock valued at $595,000 after purchasing an additional 128 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its position in Lockheed Martin by 5.9% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 786 shares of the aerospace company’s stock valued at $358,000 after purchasing an additional 44 shares during the last quarter. Finally, Marino Stram & Associates LLC lifted its position in Lockheed Martin by 2.7% in the 1st quarter. Marino Stram & Associates LLC now owns 6,669 shares of the aerospace company’s stock valued at $3,033,000 after purchasing an additional 173 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Price Performance

Shares of LMT traded down $2.64 during mid-day trading on Thursday, hitting $467.07. The company’s stock had a trading volume of 866,669 shares, compared to its average volume of 1,089,054. The firm has a 50-day moving average price of $457.24 and a 200 day moving average price of $447.25. The stock has a market capitalization of $112.07 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 4.41 and a beta of 0.46. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.11. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $479.50.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, topping the consensus estimate of $5.80 by $0.53. The business had revenue of $17.20 billion for the quarter, compared to the consensus estimate of $16.04 billion. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period last year, the firm posted $6.43 earnings per share. On average, research analysts predict that Lockheed Martin Co. will post 26.17 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be given a $3.15 dividend. This represents a $12.60 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Monday, June 3rd. Lockheed Martin’s dividend payout ratio (DPR) is currently 46.10%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. UBS Group boosted their price target on shares of Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Morgan Stanley dropped their price target on shares of Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. JPMorgan Chase & Co. upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Lockheed Martin from $467.00 to $487.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. Finally, Royal Bank of Canada dropped their price target on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin has an average rating of “Hold” and a consensus target price of $485.40.

Insider Transactions at Lockheed Martin

In other news, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Gregory M. Ulmer sold 6,204 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the completion of the sale, the insider now directly owns 12,604 shares in the company, valued at $5,434,718.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Maryanne Lavan sold 4,022 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total transaction of $1,747,116.58. The disclosure for this sale can be found here. Insiders have sold a total of 16,874 shares of company stock valued at $7,249,946 over the last ninety days. Corporate insiders own 0.17% 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.