BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 5,049 Shares of Lockheed Martin Co. (NYSE:LMT)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Lockheed Martin Co. (NYSE:LMT) by 14.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 41,079 shares of the aerospace company’s stock after buying an additional 5,049 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Lockheed Martin were worth $19,962,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Millstone Evans Group LLC purchased a new position in Lockheed Martin in the fourth quarter worth $32,000. Mizuho Securities Co. Ltd. purchased a new position in Lockheed Martin during the 4th quarter worth $34,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin during the 4th quarter valued at about $35,000. Redwood Park Advisors LLC purchased a new stake in Lockheed Martin in the fourth quarter valued at about $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Lockheed Martin in the fourth quarter worth about $42,000. Institutional investors own 74.19% of the company’s stock.

Insider Transactions at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction 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 completion of the transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This represents a 23.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s 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 owns 2,000 shares in the company, 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 7,133 shares of company stock valued at $3,155,916 over the last ninety days. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LMT shares. Morgan Stanley upgraded shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective on the stock in a report on Wednesday, April 16th. Jefferies Financial Group cut their price target on shares of Lockheed Martin from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Monday, April 28th. Bank of America downgraded shares of Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Melius Research lowered shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, StockNews.com cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 3rd. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $541.80.

Lockheed Martin Trading Down 1.2%

Shares of LMT stock opened at $470.35 on Thursday. Lockheed Martin Co. has a 1-year low of $418.88 and a 1-year high of $618.95. The company has a market cap of $110.20 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 2.07 and a beta of 0.29. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a 50 day simple moving average of $461.64 and a 200-day simple moving average of $478.52.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The firm had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. On average, equities research analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be given a $3.30 dividend. The ex-dividend date is Monday, June 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.81%. Lockheed Martin’s dividend payout ratio (DPR) is presently 57.02%.

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.