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

Family Legacy Inc. boosted its position in Lockheed Martin Co. (NYSE:LMT) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,445 shares of the aerospace company’s stock after purchasing an additional 128 shares during the period. Family Legacy Inc.’s holdings in Lockheed Martin were worth $3,960,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of LMT. Freedom Investment Management Inc. increased its position in Lockheed Martin by 16.7% during the third quarter. Freedom Investment Management Inc. now owns 754 shares of the aerospace company’s stock worth $441,000 after acquiring an additional 108 shares during the period. Vinva Investment Management Ltd raised its holdings in Lockheed Martin by 3.0% in the 3rd quarter. Vinva Investment Management Ltd now owns 656 shares of the aerospace company’s stock valued at $382,000 after acquiring an additional 19 shares in the last quarter. Arete Wealth Advisors LLC bought a new stake in shares of Lockheed Martin during the 3rd quarter valued at $1,840,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Lockheed Martin by 139.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 80,554 shares of the aerospace company’s stock worth $47,089,000 after purchasing an additional 46,900 shares in the last quarter. Finally, Edgestream Partners L.P. increased its position in shares of Lockheed Martin by 15.7% in the third quarter. Edgestream Partners L.P. now owns 3,667 shares of the aerospace company’s stock worth $2,144,000 after purchasing an additional 497 shares during the period. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

LMT has been the topic of a number of analyst reports. Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. Royal Bank of Canada cut shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $550.00 to $480.00 in a research note on Thursday. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price objective for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Morgan Stanley reduced their target price on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Finally, StockNews.com raised Lockheed Martin from a “hold” rating to a “buy” rating in a report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Lockheed Martin presently has an average rating of “Hold” and a consensus target price of $539.53.

Lockheed Martin Stock Down 0.2 %

Shares of NYSE:LMT opened at $441.41 on Monday. The business has a fifty day simple moving average of $456.49 and a 200 day simple moving average of $509.90. Lockheed Martin Co. has a 12-month low of $419.70 and a 12-month high of $618.95. The firm has a market cap of $103.90 billion, a P/E ratio of 19.83, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping 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 predict that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were issued a $3.30 dividend. 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 currently 59.30%.

Insider Activity

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin 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 owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock worth $3,155,916 over the last quarter. 0.17% of the stock is currently owned by corporate insiders.

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.