Pacific Heights Asset Management LLC Acquires 95,000 Shares of Lockheed Martin Co. (NYSE:LMT)

Pacific Heights Asset Management LLC boosted its stake in Lockheed Martin Co. (NYSE:LMT) by 163.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 153,000 shares of the aerospace company’s stock after buying an additional 95,000 shares during the period. Lockheed Martin makes up approximately 4.8% of Pacific Heights Asset Management LLC’s portfolio, making the stock its 5th biggest position. Pacific Heights Asset Management LLC’s holdings in Lockheed Martin were worth $74,349,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new position in shares of Lockheed Martin during the 3rd quarter worth approximately $26,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin during the fourth quarter worth $35,000. Capital Performance Advisors LLP purchased a new position in shares of Lockheed Martin during the third quarter worth $40,000. Legacy Investment Solutions LLC acquired a new stake in shares of Lockheed Martin in the third quarter valued at $42,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of Lockheed Martin in the 4th quarter valued at $47,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Trading Up 0.2 %

Shares of Lockheed Martin stock opened at $461.17 on Friday. The company’s fifty day moving average is $463.18 and its two-hundred day moving average is $522.42. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The company has a market capitalization of $108.55 billion, a P/E ratio of 20.72, a PEG ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) 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%. Analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Insider Activity at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the sale, the insider now directly owns 2,000 shares in the company, valued at $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the transaction, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock worth $3,155,916 in the last three months. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the topic of a number of research reports. Citigroup reduced their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Morgan Stanley reduced 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 report on Wednesday, January 29th. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Barclays cut their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, UBS Group dropped their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $553.67.

Lockheed Martin 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.