Holderness Investments Co. Has $2.07 Million Stake in Lockheed Martin Co. (NYSE:LMT)

Holderness Investments Co. grew its position in Lockheed Martin Co. (NYSE:LMT) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,254 shares of the aerospace company’s stock after purchasing an additional 42 shares during the quarter. Holderness Investments Co.’s holdings in Lockheed Martin were worth $2,067,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in shares of Lockheed Martin by 17.9% in 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 purchasing an additional 1,132,461 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Lockheed Martin by 1.8% in 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 boosted its stake in shares of Lockheed Martin by 6.6% in 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 boosted its stake in shares of Lockheed Martin by 8.5% in 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 boosted its stake in shares of Lockheed Martin by 0.9% in 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. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

LMT has been the subject of several recent research reports. UBS Group cut their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research note 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. Barclays cut their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. StockNews.com cut Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Susquehanna cut their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $554.20.

Insider Activity

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction on 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 directly owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on Wednesday, February 26th. The shares were 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 of the company’s stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. Insiders own 0.14% of the company’s stock.

Lockheed Martin Stock Down 0.9 %

Shares of LMT opened at $466.48 on Friday. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95. The stock has a market capitalization of $109.80 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The stock has a fifty day moving average of $461.50 and a 200-day moving average of $516.12.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 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%. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

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.