Geode Capital Management LLC Raises Stake in Lockheed Martin Co. (LMT)

Geode Capital Management LLC lifted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 25.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,422,800 shares of the aerospace company’s stock after acquiring an additional 691,751 shares during the quarter. Geode Capital Management LLC’s holdings in Lockheed Martin were worth $894,874,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of LMT. Bremer Trust National Association purchased a new position in Lockheed Martin during the fourth quarter valued at approximately $25,000. Van ECK Associates Corp purchased a new position in Lockheed Martin during the fourth quarter valued at approximately $29,000. Virtus ETF Advisers LLC purchased a new position in Lockheed Martin during the fourth quarter valued at approximately $31,000. Horan Securities Inc. increased its holdings in Lockheed Martin by 600.0% during the fourth quarter. Horan Securities Inc. now owns 126 shares of the aerospace company’s stock valued at $35,000 after buying an additional 108 shares during the period. Finally, Laurel Wealth Advisors LLC purchased a new position in Lockheed Martin during the fourth quarter valued at approximately $36,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP Brian P. Colan sold 4,000 shares of Lockheed Martin stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $304.56, for a total transaction of $1,218,240.00. Following the completion of the sale, the vice president now directly owns 2,489 shares in the company, valued at $758,049.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David B. Burritt sold 2,100 shares of Lockheed Martin stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $330.21, for a total transaction of $693,441.00. Following the sale, the director now owns 6,030 shares of the company’s stock, valued at $1,991,166.30. The disclosure for this sale can be found here. Insiders sold 72,949 shares of company stock worth $22,403,743 over the last ninety days. Corporate insiders own 0.35% of the company’s stock.

NYSE LMT opened at $337.99 on Friday. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.96 and a current ratio of 1.17. Lockheed Martin Co. has a 12-month low of $241.18 and a 12-month high of $351.35. The firm has a market capitalization of $95.50 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 2.34 and a beta of 1.04.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $5.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.29 by $1.70. Lockheed Martin had a net margin of 9.91% and a return on equity of 415.92%. The business had revenue of $14.34 billion for the quarter, compared to analyst estimates of $12.48 billion. During the same period in the previous year, the company earned $4.02 earnings per share. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. Sell-side analysts anticipate that Lockheed Martin Co. will post 20.53 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be issued a $2.20 dividend. This represents a $8.80 annualized dividend and a yield of 2.60%. The ex-dividend date is Friday, May 31st. Lockheed Martin’s dividend payout ratio is currently 49.30%.

Several equities analysts recently issued reports on LMT shares. Bank of America reissued a “buy” rating and set a $390.00 price objective on shares of Lockheed Martin in a report on Wednesday, January 30th. Credit Suisse Group reissued a “hold” rating and set a $297.00 price objective on shares of Lockheed Martin in a report on Wednesday, January 23rd. ValuEngine lowered shares of Lockheed Martin from a “hold” rating to a “sell” rating in a report on Wednesday, February 20th. Jefferies Financial Group reissued a “hold” rating and set a $313.00 price objective on shares of Lockheed Martin in a report on Tuesday, February 5th. Finally, Morgan Stanley lifted their price objective on shares of Lockheed Martin from $300.00 to $324.00 and gave the company an “equal weight” rating in a report on Wednesday, February 13th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $355.13.

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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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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