RiverFront Investment Group LLC Buys Shares of 588 Lockheed Martin Co. (NYSE:LMT)

RiverFront Investment Group LLC bought a new position in Lockheed Martin Co. (NYSE:LMT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 588 shares of the aerospace company’s stock, valued at approximately $286,000.

Several other hedge funds also recently modified their holdings of the business. Itau Unibanco Holding S.A. bought a new stake in shares of Lockheed Martin during the 3rd quarter worth about $26,000. Millstone Evans Group LLC bought a new position in shares of Lockheed Martin in the 4th quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. bought a new stake in Lockheed Martin during the fourth quarter worth approximately $34,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin during the fourth quarter worth approximately $35,000. Finally, Legacy Investment Solutions LLC acquired a new position in Lockheed Martin during the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on LMT. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their target price for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Citigroup cut their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Susquehanna reduced their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. UBS Group cut their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Finally, Barclays reduced 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, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $539.53.

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 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. This represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the 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 of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is currently owned by insiders.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $441.41 on Friday. The stock has a 50-day simple moving average of $456.49 and a 200 day simple moving average of $510.30. The stock has a market capitalization of $103.90 billion, a price-to-earnings 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 Co. has a 12-month low of $419.70 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) 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%. On average, research 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were given a $3.30 dividend. The ex-dividend date was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.99%. 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.