Resona Asset Management Co. Ltd. Makes New Investment in Lockheed Martin Co. (NYSE:LMT)

Resona Asset Management Co. Ltd. acquired a new stake in Lockheed Martin Co. (NYSE:LMT) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 69,272 shares of the aerospace company’s stock, valued at approximately $33,688,000.

A number of other institutional investors have also recently made changes to their positions in LMT. Charles Schwab Investment Management Inc. boosted its position in Lockheed Martin by 17.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after buying an additional 1,132,461 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Lockheed Martin by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock worth $2,374,557,000 after purchasing an additional 59,597 shares during the period. Wellington Management Group LLP grew its stake in shares of Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Lockheed Martin by 0.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company’s stock valued at $847,361,000 after purchasing an additional 15,085 shares during the period. Finally, Proficio Capital Partners LLC raised its position in Lockheed Martin by 53,784.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock valued at $600,412,000 after purchasing an additional 1,233,275 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 4.9 %

Lockheed Martin stock opened at $432.72 on Friday. Lockheed Martin Co. has a 12 month low of $419.70 and a 12 month high of $618.95. The company has a market capitalization of $101.50 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. The business’s fifty day simple moving average is $451.38 and its two-hundred day simple moving average is $506.46. 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 (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate 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 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were issued a $3.30 dividend. The ex-dividend date was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 3.05%. Lockheed Martin’s payout ratio is currently 59.30%.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction that occurred on 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 completion of the sale, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LMT shares. Barclays reduced their target price 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. Wells Fargo & Company reissued an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their target price for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. Melius cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, UBS Group lowered their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Lockheed Martin presently has an average rating of “Hold” and an average target price of $539.53.

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.