Choate Investment Advisors Raises Holdings in Lockheed Martin Co. (NYSE:LMT)

Choate Investment Advisors boosted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 11.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,268 shares of the aerospace company’s stock after acquiring an additional 129 shares during the period. Choate Investment Advisors’ holdings in Lockheed Martin were worth $616,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of LMT. Virtue Capital Management LLC boosted its position in Lockheed Martin by 112.8% during the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after purchasing an additional 1,192 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Lockheed Martin by 2.1% in the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after buying an additional 13,253 shares in the last quarter. Hilltop Holdings Inc. grew its position in shares of Lockheed Martin by 79.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after buying an additional 5,361 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its stake 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 worth $4,630,000 after acquiring an additional 3,247 shares in the last quarter. Finally, Capital Investment Advisors LLC lifted its position in Lockheed Martin by 2.2% during the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after acquiring an additional 2,011 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.2 %

Shares of NYSE:LMT opened at $467.07 on Monday. The company has a market capitalization of $109.94 billion, a PE ratio of 20.98, a PEG 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 has a 50 day moving average of $461.39 and a two-hundred day moving average of $518.19. 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 posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.83%. Lockheed Martin’s payout ratio is 59.30%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. Barclays decreased their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. UBS Group lowered their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and cut their price objective for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. Finally, StockNews.com downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $554.20.

Insiders Place Their Bets

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction 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 transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the business’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 directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is owned by corporate 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.