Intact Investment Management Inc. Increases Stake in Lockheed Martin Co. (NYSE:LMT)

Intact Investment Management Inc. boosted its stake in Lockheed Martin Co. (NYSE:LMT) by 6,900.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,400 shares of the aerospace company’s stock after purchasing an additional 8,280 shares during the period. Intact Investment Management Inc.’s holdings in Lockheed Martin were worth $4,082,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Lockheed Martin by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after buying an additional 1,132,461 shares during the period. Geode Capital Management LLC increased its stake in shares of Lockheed Martin by 1.8% during the third quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock valued at $2,816,898,000 after buying an additional 83,997 shares during the period. FMR LLC increased its stake in shares of Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after buying an additional 209,591 shares during the period. Wellington Management Group LLP increased its stake in shares of Lockheed Martin by 8.5% during the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after buying an additional 240,306 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Lockheed Martin by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company’s stock valued at $847,361,000 after buying an additional 15,085 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Trading Down 0.2 %

Shares of NYSE:LMT opened at $467.07 on Friday. The company has a market cap of $109.94 billion, a P/E ratio of 20.98, a PEG 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. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95. The stock’s fifty day moving average price is $461.39 and its 200-day moving average price is $518.80.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Sell-side analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Susquehanna reduced their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. Citigroup reduced their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Royal Bank of Canada reduced their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price target for the stock 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $554.20.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 2,278 shares in the company, valued at $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 SEC, which is available through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 2,000 shares of the company’s stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is owned by insiders.

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.