Pitcairn Co. Purchases 604 Shares of Lockheed Martin Co. (NYSE:LMT)

Pitcairn Co. lifted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 7.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,548 shares of the aerospace company’s stock after purchasing an additional 604 shares during the period. Pitcairn Co.’s holdings in Lockheed Martin were worth $4,154,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC grew its holdings in Lockheed Martin by 53,784.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock worth $600,412,000 after acquiring an additional 1,233,275 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake 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 worth $3,630,492,000 after purchasing an additional 1,132,461 shares during the last quarter. Van ECK Associates Corp increased its holdings in Lockheed Martin by 1,239.6% in the fourth quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock valued at $266,410,000 after purchasing an additional 507,312 shares during the period. Wellington Management Group LLP raised its position in Lockheed Martin by 8.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in Lockheed Martin during the 4th quarter worth about $77,376,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Up 1.0 %

Shares of NYSE LMT opened at $452.92 on Thursday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The company has a 50-day moving average price of $453.52 and a 200-day moving average price of $507.80. The stock has a market capitalization of $106.24 billion, a P/E ratio of 20.35, a P/E/G ratio of 2.07 and a beta of 0.39. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95.

Lockheed Martin (NYSE:LMT) last released 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%. On average, equities research analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were paid a $3.30 dividend. The ex-dividend date was Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.91%. Lockheed Martin’s payout ratio is 59.30%.

Insider Activity

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the sale, the insider now directly owns 2,000 shares in the company, valued at $884,840. The trade was a 61.63 % decrease in their position. 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 firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the sale, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. 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. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Melius Research lowered Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Susquehanna reduced their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. Melius downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Truist Financial started coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. Finally, Barclays lowered their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin currently has a consensus rating of “Hold” and a consensus target price of $539.53.

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.