RiverPark Advisors LLC Acquires 117 Shares of Lockheed Martin Co. (NYSE:LMT)

RiverPark Advisors LLC increased its holdings in Lockheed Martin Co. (NYSE:LMT) by 8.0% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,583 shares of the aerospace company’s stock after buying an additional 117 shares during the quarter. RiverPark Advisors LLC’s holdings in Lockheed Martin were worth $769,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LMT. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Lockheed Martin by 51.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after purchasing an additional 3,247 shares during the last quarter. Capital Investment Advisors LLC lifted its holdings in shares of Lockheed Martin by 2.2% during the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after buying an additional 2,011 shares during the period. Brady Martz Wealth Solutions LLC bought a new position in shares of Lockheed Martin during the 4th quarter valued at $1,266,000. World Investment Advisors LLC grew its holdings in shares of Lockheed Martin by 55.1% in the third quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company’s stock worth $3,781,000 after acquiring an additional 2,297 shares during the period. Finally, Private Advisor Group LLC increased its position in Lockheed Martin by 11.0% during the fourth quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company’s stock valued at $24,906,000 after acquiring an additional 5,075 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

LMT has been the topic of several research reports. Wells Fargo & Company dropped their target price on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird upgraded shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 target price for the company in a research report on Wednesday. Barclays reduced their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Royal Bank of Canada downgraded shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Finally, Citigroup reduced their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $544.79.

Lockheed Martin Stock Performance

NYSE:LMT opened at $463.66 on Thursday. 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 Co. has a 12-month low of $418.88 and a 12-month high of $618.95. The stock has a 50-day moving average price of $453.93 and a 200 day moving average price of $494.28. The stock has a market capitalization of $108.76 billion, a P/E ratio of 20.83, a P/E/G ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping the consensus estimate of $6.34 by $0.94. The firm had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Equities research analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were given a dividend of $3.30 per share. The ex-dividend date was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.85%. Lockheed Martin’s payout ratio is 57.02%.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction 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 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Harry Edward Paul III sold 707 shares of the business’s 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 sale, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.14% of the stock is currently owned by insiders.

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.