Palisade Asset Management LLC Acquires Shares of 471 Lockheed Martin Co. (NYSE:LMT)

Palisade Asset Management LLC purchased a new stake in Lockheed Martin Co. (NYSE:LMT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 471 shares of the aerospace company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Triumph Capital Management increased its position in Lockheed Martin by 3.1% during the 3rd quarter. Triumph Capital Management now owns 723 shares of the aerospace company’s stock worth $296,000 after purchasing an additional 22 shares in the last quarter. Abbrea Capital LLC lifted its holdings in Lockheed Martin by 1.7% during the 3rd quarter. Abbrea Capital LLC now owns 1,397 shares of the aerospace company’s stock worth $571,000 after buying an additional 23 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its holdings in Lockheed Martin by 1.6% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,429 shares of the aerospace company’s stock valued at $584,000 after acquiring an additional 23 shares during the last quarter. Duncker Streett & Co. Inc. boosted its stake in shares of Lockheed Martin by 1.2% in the 3rd quarter. Duncker Streett & Co. Inc. now owns 2,013 shares of the aerospace company’s stock valued at $823,000 after purchasing an additional 24 shares during the last quarter. Finally, Norris Perne & French LLP MI lifted its holdings in Lockheed Martin by 2.8% in the fourth quarter. Norris Perne & French LLP MI now owns 905 shares of the aerospace company’s stock valued at $410,000 after buying an additional 25 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Performance

Shares of LMT stock traded up $3.78 during trading hours on Tuesday, hitting $466.56. 723,400 shares of the company were exchanged, compared to its average volume of 1,144,404. The firm has a fifty day simple moving average of $448.81 and a 200 day simple moving average of $445.66. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $479.50. The stock has a market capitalization of $111.95 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 4.23 and a beta of 0.46. The company has a current ratio of 1.30, a quick ratio of 1.11 and a debt-to-equity ratio of 2.89.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.80 by $0.53. The business had revenue of $17.20 billion for the quarter, compared to analysts’ expectations of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the business posted $6.43 EPS. Research analysts predict that Lockheed Martin Co. will post 26.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be given a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Monday, June 3rd. Lockheed Martin’s payout ratio is presently 46.10%.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total value of $1,747,116.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO John Frank A. St sold 6,648 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maryanne Lavan sold 4,022 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total transaction of $1,747,116.58. The disclosure for this sale can be found here. Insiders sold a total of 16,874 shares of company stock worth $7,249,946 over the last three months. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on LMT. Susquehanna cut their target price on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating on the stock in a research report on Wednesday, January 24th. Royal Bank of Canada cut their target price on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 24th. The Goldman Sachs Group dropped their price objective on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a report on Tuesday, April 23rd. UBS Group upped their price target on Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Finally, JPMorgan Chase & Co. raised Lockheed Martin from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $475.00 to $518.00 in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin presently has an average rating of “Hold” and a consensus target price of $485.40.

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.