Weik Capital Management Increases Stake in Lockheed Martin Co. (NYSE:LMT)

Weik Capital Management lifted its stake in Lockheed Martin Co. (NYSE:LMT) by 0.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,613 shares of the aerospace company’s stock after buying an additional 50 shares during the quarter. Lockheed Martin accounts for approximately 1.3% of Weik Capital Management’s holdings, making the stock its 23rd largest position. Weik Capital Management’s holdings in Lockheed Martin were worth $3,214,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin in the 3rd quarter worth $26,000. Millstone Evans Group LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth about $32,000. Mizuho Securities Co. Ltd. bought a new position in Lockheed Martin during the fourth quarter valued at approximately $34,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin during the 4th quarter valued at approximately $35,000. Finally, Legacy Investment Solutions LLC bought a new stake in Lockheed Martin in the 3rd quarter worth approximately $42,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

NYSE LMT opened at $442.27 on Friday. Lockheed Martin Co. has a 12-month low of $419.70 and a 12-month high of $618.95. The firm’s fifty day simple moving average is $457.47 and its two-hundred day simple moving average is $511.67. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $104.10 billion, a P/E ratio of 19.87, a P/E/G ratio of 2.07 and a beta of 0.43.

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

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Insider Activity

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the sale, the insider now directly owns 2,000 shares in the company, valued at $884,840. This trade represents a 61.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 owns 2,278 shares of the company’s stock, 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. Insiders have sold 7,133 shares of company stock valued at $3,155,916 over the last ninety days. 0.17% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on LMT. StockNews.com upgraded Lockheed Martin from a “hold” rating to a “buy” rating in a research report on Monday. Susquehanna dropped their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company restated an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. Finally, Barclays reduced their price objective on 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $539.53.

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.