Hartford Funds Management Co LLC Has $1.11 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Hartford Funds Management Co LLC grew its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 38.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,283 shares of the aerospace company’s stock after purchasing an additional 638 shares during the period. Hartford Funds Management Co LLC’s holdings in Lockheed Martin were worth $1,110,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in LMT. Assetmark Inc. increased its stake in Lockheed Martin by 1.3% in the 3rd quarter. Assetmark Inc. now owns 1,470 shares of the aerospace company’s stock worth $859,000 after acquiring an additional 19 shares during the last quarter. Klingman & Associates LLC increased its stake in Lockheed Martin by 1.1% in the 3rd quarter. Klingman & Associates LLC now owns 1,729 shares of the aerospace company’s stock worth $1,011,000 after acquiring an additional 19 shares during the last quarter. Platform Technology Partners increased its stake in Lockheed Martin by 0.5% in the 3rd quarter. Platform Technology Partners now owns 4,122 shares of the aerospace company’s stock worth $2,409,000 after acquiring an additional 19 shares during the last quarter. Vinva Investment Management Ltd increased its stake in Lockheed Martin by 3.0% in the 3rd quarter. Vinva Investment Management Ltd now owns 656 shares of the aerospace company’s stock worth $382,000 after acquiring an additional 19 shares during the last quarter. Finally, Sittner & Nelson LLC increased its stake in Lockheed Martin by 4.5% in the 3rd quarter. Sittner & Nelson LLC now owns 467 shares of the aerospace company’s stock worth $273,000 after acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Morgan Stanley decreased their target price on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Royal Bank of Canada reduced their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Susquehanna reduced their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. Citigroup reduced their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company reduced their price objective on Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and an average target price of $553.67.

Lockheed Martin Trading Up 0.2 %

Shares of LMT stock opened at $461.17 on Friday. The stock has a market capitalization of $108.55 billion, a PE ratio of 20.72, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 1-year low of $419.70 and a 1-year high of $618.95. The business has a 50-day moving average of $463.18 and a 200 day moving average of $522.42. 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 issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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%. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is currently 59.30%.

Insiders Place Their Bets

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction that occurred 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 owns 2,000 shares in the company, valued at approximately $884,840. This trade represents a 61.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred 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 sale, the vice president now 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is currently owned by company insiders.

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.