Connor Clark & Lunn Investment Management Ltd. Buys New Holdings in Lockheed Martin Co. (NYSE:LMT)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Lockheed Martin Co. (NYSE:LMT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 21,951 shares of the aerospace company’s stock, valued at approximately $10,667,000.

Several other hedge funds have also bought and sold shares of the company. Rakuten Securities Inc. lifted its stake in Lockheed Martin by 35.5% in the 4th quarter. Rakuten Securities Inc. now owns 248 shares of the aerospace company’s stock valued at $121,000 after purchasing an additional 65 shares during the last quarter. Essential Planning LLC. bought a new stake in shares of Lockheed Martin during the fourth quarter worth approximately $1,042,000. Truvestments Capital LLC boosted its holdings in shares of Lockheed Martin by 5.5% during the fourth quarter. Truvestments Capital LLC now owns 6,457 shares of the aerospace company’s stock worth $3,138,000 after acquiring an additional 339 shares during the period. Hopwood Financial Services Inc. bought a new stake in shares of Lockheed Martin during the fourth quarter worth approximately $476,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Lockheed Martin by 20.9% during the fourth quarter. Farther Finance Advisors LLC now owns 5,843 shares of the aerospace company’s stock worth $2,839,000 after acquiring an additional 1,010 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LMT shares. Susquehanna reduced their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. Citigroup reduced their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada reduced their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Morgan Stanley cut their price target on 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. Finally, Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus target price of $554.20.

Lockheed Martin Stock Down 0.2 %

Shares of LMT opened at $467.07 on Friday. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95. The company has a market cap of $109.94 billion, a P/E ratio of 20.98, a P/E/G ratio of 2.07 and a beta of 0.43. 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 50 day simple moving average of $461.39 and a two-hundred day simple moving average of $518.80.

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 the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Research analysts forecast that Lockheed Martin Co. will post 27.15 EPS 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. Stockholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.83%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Insider Transactions at Lockheed Martin

In other news, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s 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 transaction, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. 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.