Hoey Investments Inc. Grows Stock Position in Lockheed Martin Co. (NYSE:LMT)

Hoey Investments Inc. increased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 33.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,304 shares of the aerospace company’s stock after purchasing an additional 583 shares during the quarter. Lockheed Martin makes up approximately 0.2% of Hoey Investments Inc.’s investment portfolio, making the stock its 26th largest position. Hoey Investments Inc.’s holdings in Lockheed Martin were worth $1,120,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in LMT. Freedom Investment Management Inc. raised its position in shares of Lockheed Martin by 16.7% in the third quarter. Freedom Investment Management Inc. now owns 754 shares of the aerospace company’s stock valued at $441,000 after buying an additional 108 shares during the last quarter. Vinva Investment Management Ltd grew its stake in Lockheed Martin by 3.0% during the 3rd quarter. Vinva Investment Management Ltd now owns 656 shares of the aerospace company’s stock valued at $382,000 after acquiring an additional 19 shares in the last quarter. Arete Wealth Advisors LLC purchased a new stake in Lockheed Martin during the 3rd quarter valued at about $1,840,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in Lockheed Martin by 139.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 80,554 shares of the aerospace company’s stock worth $47,089,000 after purchasing an additional 46,900 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in shares of Lockheed Martin by 15.7% during the 3rd quarter. Edgestream Partners L.P. now owns 3,667 shares of the aerospace company’s stock worth $2,144,000 after purchasing an additional 497 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lockheed Martin news, 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 sale, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. This represents a 23.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction dated 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 transaction, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. The trade was a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock worth $3,155,916 in the last ninety days. 0.17% of the stock is owned by corporate insiders.

Lockheed Martin Stock Down 0.2 %

NYSE:LMT opened at $441.41 on Monday. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The stock’s fifty day moving average is $456.49 and its two-hundred day moving average is $509.90. The stock has a market capitalization of $103.90 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

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, 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%. Research analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

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

Wall Street Analysts Forecast Growth

LMT has been the subject of several recent research reports. Susquehanna cut their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and cut their target price for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Barclays reduced their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, Melius cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $539.53.

Lockheed Martin Company 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.