Family Legacy Inc. Purchases 128 Shares of Lockheed Martin Co. (NYSE:LMT)

Family Legacy Inc. increased its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,445 shares of the aerospace company’s stock after acquiring an additional 128 shares during the period. Family Legacy Inc.’s holdings in Lockheed Martin were worth $3,960,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Boston Research & Management Inc. increased its holdings in Lockheed Martin by 0.6% during the fourth quarter. Boston Research & Management Inc. now owns 11,206 shares of the aerospace company’s stock worth $5,445,000 after buying an additional 72 shares during the last quarter. Summit Financial LLC increased its stake in shares of Lockheed Martin by 7.6% during the 4th quarter. Summit Financial LLC now owns 4,863 shares of the aerospace company’s stock worth $2,363,000 after purchasing an additional 344 shares during the last quarter. Hoey Investments Inc. increased its stake in shares of Lockheed Martin by 33.9% during the 4th quarter. Hoey Investments Inc. now owns 2,304 shares of the aerospace company’s stock worth $1,120,000 after purchasing an additional 583 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Lockheed Martin by 9.0% in the fourth quarter. Alliancebernstein L.P. now owns 298,373 shares of the aerospace company’s stock valued at $144,991,000 after purchasing an additional 24,530 shares during the last quarter. Finally, Prudent Man Investment Management Inc. bought a new position in Lockheed Martin during the fourth quarter valued at $178,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Performance

NYSE:LMT opened at $441.41 on Monday. The company has a market capitalization of $103.90 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 1-year low of $419.70 and a 1-year high of $618.95. The business has a 50 day moving average of $456.49 and a 200 day moving average of $509.90. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

Lockheed Martin (NYSE:LMT) last released its earnings results 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%. On average, sell-side analysts predict 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 was paid on Friday, March 28th. Investors of record on Monday, March 3rd were given a dividend of $3.30 per share. The ex-dividend date was Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.99%. Lockheed Martin’s payout ratio is 59.30%.

Insiders Place Their Bets

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction 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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock valued at $3,155,916 in the last ninety days. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the topic of several research reports. Melius Research lowered Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their target price for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. Morgan Stanley reduced their price target on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Melius cut Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $539.53.

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.