Platform Technology Partners Increases Stock Position in Lockheed Martin Co. (NYSE:LMT)

Platform Technology Partners raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT – Get Rating) by 82.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,313 shares of the aerospace company’s stock after purchasing an additional 1,045 shares during the period. Platform Technology Partners’ holdings in Lockheed Martin were worth $1,125,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Lockheed Martin by 1.3% during the third quarter. Vanguard Group Inc. now owns 22,885,865 shares of the aerospace company’s stock valued at $8,840,580,000 after buying an additional 289,110 shares during the last quarter. FMR LLC boosted its holdings in shares of Lockheed Martin by 39.9% during the 2nd quarter. FMR LLC now owns 5,966,076 shares of the aerospace company’s stock valued at $2,565,175,000 after acquiring an additional 1,701,615 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Lockheed Martin by 5.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,256,069 shares of the aerospace company’s stock worth $2,320,030,000 after acquiring an additional 264,665 shares during the period. Franklin Resources Inc. lifted its position in Lockheed Martin by 2.9% during the second quarter. Franklin Resources Inc. now owns 2,448,118 shares of the aerospace company’s stock valued at $1,052,592,000 after purchasing an additional 69,906 shares during the period. Finally, GQG Partners LLC boosted its holdings in Lockheed Martin by 18.0% in the second quarter. GQG Partners LLC now owns 2,040,934 shares of the aerospace company’s stock worth $877,886,000 after purchasing an additional 311,513 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, Director John Donovan bought 556 shares of the business’s stock in a transaction that occurred on Wednesday, January 25th. The stock was purchased at an average cost of $451.20 per share, with a total value of $250,867.20. Following the completion of the acquisition, the director now owns 2,324 shares in the company, valued at approximately $1,048,588.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Lockheed Martin news, Director John Donovan bought 556 shares of the firm’s stock in a transaction dated Wednesday, January 25th. The shares were purchased at an average cost of $451.20 per share, for a total transaction of $250,867.20. Following the transaction, the director now owns 2,324 shares of the company’s stock, valued at $1,048,588.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Timothy S. Cahill sold 2,534 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $479.44, for a total transaction of $1,214,900.96. Following the completion of the transaction, the executive vice president now directly owns 10,460 shares of the company’s stock, valued at approximately $5,014,942.40. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Vertical Research lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and set a $491.00 target price for the company. in a research note on Friday, January 6th. Morgan Stanley lowered their target price on Lockheed Martin from $542.00 to $532.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 25th. The Goldman Sachs Group cut Lockheed Martin from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $388.00 to $332.00 in a research report on Friday, January 13th. Wells Fargo & Company lifted their price target on shares of Lockheed Martin from $417.00 to $422.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 25th. Finally, JPMorgan Chase & Co. upped their price objective on Lockheed Martin from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Monday, December 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $490.43.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded down $7.37 on Friday, hitting $465.87. 6,525,176 shares of the company traded hands, compared to its average volume of 1,539,201. Lockheed Martin Co. has a 52 week low of $373.67 and a 52 week high of $498.95. The business has a 50-day simple moving average of $467.37 and a 200 day simple moving average of $457.85. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.13 and a current ratio of 1.32. The stock has a market capitalization of $118.94 billion, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 2.60 and a beta of 0.68.

Lockheed Martin (NYSE:LMT – Get Rating) last announced its quarterly earnings results on Tuesday, January 24th. The aerospace company reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.41 by $0.38. The company had revenue of $18.99 billion for the quarter, compared to the consensus estimate of $18.25 billion. Lockheed Martin had a net margin of 8.69% and a return on equity of 68.01%. Lockheed Martin’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.47 EPS. Research analysts expect that Lockheed Martin Co. will post 26.86 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Wednesday, March 1st will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Tuesday, February 28th. Lockheed Martin’s payout ratio is 55.27%.

About Lockheed Martin

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Lockheed Martin Corp. is a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.