Summit Securities Group LLC Acquires Shares of 1,400 Lockheed Martin Co. (NYSE:LMT)

Summit Securities Group LLC purchased a new stake in shares of Lockheed Martin Co. (NYSE:LMT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,400 shares of the aerospace company’s stock, valued at approximately $680,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Virtue Capital Management LLC raised its stake in Lockheed Martin by 112.8% in the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after acquiring an additional 1,192 shares during the period. Hilltop Holdings Inc. increased its stake in Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after acquiring an additional 5,361 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Lockheed Martin by 51.7% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after buying an additional 3,247 shares in the last quarter. Capital Investment Advisors LLC boosted its stake in shares of Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after purchasing an additional 2,011 shares in the last quarter. Finally, Brady Martz Wealth Solutions LLC bought a new position in Lockheed Martin during the 4th quarter worth approximately $1,266,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s 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 transaction, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $312,925.27. Following the completion of the sale, the vice president now directly owns 2,278 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is currently owned by company insiders.

Lockheed Martin Price Performance

NYSE:LMT opened at $441.41 on Friday. The company has a market capitalization of $103.90 billion, a P/E ratio of 19.83, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 12 month low of $419.70 and a 12 month high of $618.95. The business’s 50-day moving average is $456.49 and its 200 day moving average is $510.30. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

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 net margin of 7.51% and a return on equity of 101.47%. On average, equities research analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were issued a $3.30 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.99%. Lockheed Martin’s payout ratio is 59.30%.

Analyst Ratings Changes

A number of analysts recently commented on LMT shares. Bank of America lowered Lockheed Martin from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. UBS Group reduced their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. Truist Financial started coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. Finally, Barclays lowered their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $539.53.

Lockheed Martin Profile

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.