Canopy Partners LLC Increases Position in Lockheed Martin Co. (NYSE:LMT)

Canopy Partners LLC increased its holdings in Lockheed Martin Co. (NYSE:LMT) by 343.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,558 shares of the aerospace company’s stock after acquiring an additional 1,207 shares during the period. Canopy Partners LLC’s holdings in Lockheed Martin were worth $757,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lockheed Martin by 17.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after buying an additional 1,132,461 shares during the last quarter. Geode Capital Management LLC raised its position in Lockheed Martin by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock worth $2,374,557,000 after acquiring an additional 59,597 shares during the period. Invesco Ltd. raised its position in Lockheed Martin by 17.5% in the fourth quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company’s stock worth $1,035,989,000 after acquiring an additional 318,007 shares during the period. Bank of New York Mellon Corp boosted its stake in 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 acquiring an additional 15,085 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its position in shares of 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 valued at $600,412,000 after acquiring an additional 1,233,275 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction that occurred 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 directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction on 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 transaction, the vice president now directly owns 2,278 shares in the company, valued at approximately $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 7,133 shares of company stock valued at $3,155,916 in the last quarter. 0.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LMT has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price objective for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. Melius Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. JPMorgan Chase & Co. lowered their price objective 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. StockNews.com lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Tuesday, April 1st. Finally, UBS Group lowered their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Hold” and an average price target of $539.53.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $432.72 on Monday. Lockheed Martin Co. has a 1 year low of $413.96 and a 1 year high of $618.95. The firm’s 50-day moving average is $451.38 and its 200 day moving average is $505.61. The stock has a market cap of $101.50 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 2.07 and a beta of 0.39. 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 (NYSE:LMT) last released its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating 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%. Sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current fiscal 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 paid a dividend of $3.30 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.05%. Lockheed Martin’s dividend payout ratio is currently 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.