Resona Asset Management Co. Ltd. Acquires Shares of 69,272 Lockheed Martin Co. (NYSE:LMT)

Resona Asset Management Co. Ltd. bought a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 69,272 shares of the aerospace company’s stock, valued at approximately $33,688,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CFS Investment Advisory Services LLC raised its position in Lockheed Martin by 2.0% in the fourth quarter. CFS Investment Advisory Services LLC now owns 1,091 shares of the aerospace company’s stock worth $530,000 after acquiring an additional 21 shares during the period. Wynn Capital LLC grew its position in shares of Lockheed Martin by 1.0% during the 4th quarter. Wynn Capital LLC now owns 2,185 shares of the aerospace company’s stock valued at $1,062,000 after acquiring an additional 22 shares during the period. PBMares Wealth Management LLC increased its stake in shares of Lockheed Martin by 0.6% during the 4th quarter. PBMares Wealth Management LLC now owns 3,745 shares of the aerospace company’s stock worth $1,820,000 after purchasing an additional 22 shares during the last quarter. Nvwm LLC raised its holdings in shares of Lockheed Martin by 2.5% in the 4th quarter. Nvwm LLC now owns 908 shares of the aerospace company’s stock worth $441,000 after purchasing an additional 22 shares during the period. Finally, Schear Investment Advisers LLC lifted its stake in Lockheed Martin by 2.0% in the fourth quarter. Schear Investment Advisers LLC now owns 1,147 shares of the aerospace company’s stock valued at $557,000 after purchasing an additional 22 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

NYSE:LMT opened at $432.72 on Friday. The stock has a market cap of $101.50 billion, a P/E ratio of 19.44, a PEG ratio of 2.07 and a beta of 0.39. 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 business’s 50-day moving average price is $451.38 and its two-hundred day moving average price is $506.46. Lockheed Martin Co. has a twelve month low of $419.70 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates 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, equities analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were given a $3.30 dividend. The ex-dividend date was Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 3.05%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Bank of America cut Lockheed Martin from a “buy” rating to a “neutral” rating and dropped their price target for the company from $685.00 to $485.00 in a research report on Monday, March 24th. Citigroup dropped their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. JPMorgan Chase & Co. reduced their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Melius Research cut shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Lockheed Martin presently has a consensus rating of “Hold” and an average price target of $539.53.

Insider Activity at Lockheed Martin

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 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 in the company, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction 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. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock valued at $3,155,916 over the last 90 days. 0.17% of the stock is 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.