Patten Group Inc. Purchases 49 Shares of Lockheed Martin Co. (NYSE:LMT)

Patten Group Inc. raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,642 shares of the aerospace company’s stock after purchasing an additional 49 shares during the quarter. Patten Group Inc.’s holdings in Lockheed Martin were worth $1,284,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of LMT. Virtue Capital Management LLC grew its holdings in Lockheed Martin by 112.8% during the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after buying an additional 1,192 shares in the last quarter. Bank of Montreal Can increased its holdings in Lockheed Martin by 2.1% during the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after buying an additional 13,253 shares during the last quarter. Hilltop Holdings Inc. raised its holdings in shares of Lockheed Martin by 79.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after purchasing an additional 5,361 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of Lockheed Martin by 51.7% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock worth $4,630,000 after acquiring an additional 3,247 shares during the period. Finally, Capital Investment Advisors LLC grew its stake in Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after buying an additional 2,011 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insiders Place Their Bets

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction dated 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 completion of the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock worth $3,155,916 in the last 90 days. 0.17% of the stock is currently owned by corporate insiders.

Lockheed Martin Stock Up 0.2 %

LMT opened at $451.44 on Tuesday. The firm has a 50 day moving average price of $465.09 and a 200-day moving average price of $524.06. The stock has a market capitalization of $106.26 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 2.07 and a beta of 0.43. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. 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 (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%. Equities research analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LMT. Citigroup lowered their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price target for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. Morgan Stanley dropped their target price on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company dropped their target price on shares of Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Finally, Barclays dropped their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $553.67.

About Lockheed Martin

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.