Patrick M Sweeney & Associates Inc. Purchases New Position in Lockheed Martin Co. (NYSE:LMT)

Patrick M Sweeney & Associates Inc. acquired a new position in Lockheed Martin Co. (NYSE:LMT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,099 shares of the aerospace company’s stock, valued at approximately $498,000.

Other hedge funds have also modified their holdings of the company. Palisade Asset Management LLC purchased a new stake in shares of Lockheed Martin during the 4th quarter valued at about $213,000. Simmons Bank lifted its stake in shares of Lockheed Martin by 0.3% in the 4th quarter. Simmons Bank now owns 12,896 shares of the aerospace company’s stock valued at $5,845,000 after purchasing an additional 38 shares during the last quarter. Northern Financial Advisors Inc increased its position in shares of Lockheed Martin by 3.3% during the 4th quarter. Northern Financial Advisors Inc now owns 2,086 shares of the aerospace company’s stock valued at $945,000 after purchasing an additional 67 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in Lockheed Martin by 12.9% during the 4th quarter. Apollon Wealth Management LLC now owns 9,654 shares of the aerospace company’s stock valued at $4,376,000 after buying an additional 1,101 shares during the period. Finally, Lincoln National Corp lifted its position in Lockheed Martin by 2.6% in the fourth quarter. Lincoln National Corp now owns 15,689 shares of the aerospace company’s stock worth $7,111,000 after buying an additional 405 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LMT has been the subject of several recent analyst reports. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Wells Fargo & Company lifted their price objective on shares of Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. Morgan Stanley dropped their price objective on shares of Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Royal Bank of Canada dropped their price objective on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 24th. Finally, Susquehanna decreased their target price on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Hold” and an average target price of $485.40.

Insiders Place Their Bets

In other news, COO John Frank A. St sold 6,648 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $425.35, for a total transaction of $2,827,726.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, COO John Frank A. St sold 6,648 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Maryanne Lavan sold 4,022 shares of the company’s 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,874 shares of company stock worth $7,249,946. 0.14% of the stock is owned by corporate insiders.

Lockheed Martin Stock Down 0.1 %

Shares of LMT stock traded down $0.52 on Wednesday, hitting $466.16. The stock had a trading volume of 595,687 shares, compared to its average volume of 1,138,239. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89. The business has a 50 day moving average price of $448.81 and a 200 day moving average price of $445.66. The company has a market cap of $111.85 billion, a PE ratio of 17.06, a P/E/G ratio of 4.23 and a beta of 0.46. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $479.50.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53. The business had revenue of $17.20 billion during 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 revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the company posted $6.43 earnings per share. Research analysts anticipate that Lockheed Martin Co. will post 26.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be issued a $3.15 dividend. The ex-dividend date is Monday, June 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.70%. Lockheed Martin’s dividend payout ratio is presently 46.10%.

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.