Putney Financial Group LLC Buys Shares of 2,196 Lockheed Martin Co. (NYSE:LMT)

Putney Financial Group LLC purchased a new position in Lockheed Martin Co. (NYSE:LMT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,196 shares of the aerospace company's stock, valued at approximately $1,067,000. Lockheed Martin makes up about 0.7% of Putney Financial Group LLC's holdings, making the stock its 21st largest position.

A number of other institutional investors also recently bought and sold shares of the stock. LaFleur & Godfrey LLC increased its position in shares of Lockheed Martin by 18.0% during the fourth quarter. LaFleur & Godfrey LLC now owns 1,156 shares of the aerospace company's stock valued at $562,000 after acquiring an additional 176 shares in the last quarter. Eagle Capital Management LLC grew its position in shares of Lockheed Martin by 0.3% during the 4th quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company's stock valued at $5,261,000 after acquiring an additional 32 shares during the period. Avior Wealth Management LLC grew its position in shares of Lockheed Martin by 5.1% during the 4th quarter. Avior Wealth Management LLC now owns 1,261 shares of the aerospace company's stock valued at $613,000 after acquiring an additional 61 shares during the period. Brighton Jones LLC grew its position in shares of Lockheed Martin by 5.0% during the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock valued at $1,941,000 after acquiring an additional 191 shares during the period. Finally, Cornerstone Wealth Management LLC grew its position in shares of Lockheed Martin by 4.4% during the 4th quarter. Cornerstone Wealth Management LLC now owns 2,870 shares of the aerospace company's stock valued at $1,395,000 after acquiring an additional 120 shares during the period. 74.19% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Harry Edward Paul III sold 707 shares of the business'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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business'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 of the company's stock, valued at $884,840. This represents a 61.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock valued at $3,155,916 over the last 90 days. Insiders own 0.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LMT shares. Susquehanna lowered their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a "positive" rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley upgraded shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price target on the stock in a research note on Wednesday, April 16th. Jefferies Financial Group decreased their target price on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research report on Monday, April 28th. Royal Bank of Canada lowered shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $550.00 to $480.00 in a research report on Thursday, March 27th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lockheed Martin presently has a consensus rating of "Moderate Buy" and a consensus target price of $541.80.

Lockheed Martin Stock Up 1.6%

LMT traded up $7.54 during trading on Tuesday, hitting $476.42. The stock had a trading volume of 1,275,853 shares, compared to its average volume of 1,297,472. The stock has a 50 day simple moving average of $461.68 and a two-hundred day simple moving average of $475.77. The company has a market capitalization of $111.62 billion, a PE ratio of 21.40, a PEG ratio of 2.07 and a beta of 0.29. Lockheed Martin Co. has a twelve month low of $418.88 and a twelve month high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.34 by $0.94. The business had revenue of $17.96 billion during the quarter, compared to analysts' expectations of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, research analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, June 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.77%. Lockheed Martin's dividend payout ratio (DPR) is presently 57.02%.

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.