Lazard Asset Management LLC Buys 17,583 Shares of Lockheed Martin Co. (NYSE:LMT)

Lazard Asset Management LLC lifted its position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 22.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,391 shares of the aerospace company's stock after purchasing an additional 17,583 shares during the period. Lazard Asset Management LLC's holdings in Lockheed Martin were worth $46,354,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LMT. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in Lockheed Martin by 51.7% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company's stock valued at $4,630,000 after acquiring an additional 3,247 shares during the period. Capital Investment Advisors LLC increased its stake in shares of Lockheed Martin by 2.2% during the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company's stock worth $44,770,000 after purchasing an additional 2,011 shares during the period. Brady Martz Wealth Solutions LLC acquired a new stake in Lockheed Martin during the 4th quarter worth approximately $1,266,000. Aquatic Capital Management LLC bought a new stake in Lockheed Martin in the 4th quarter valued at $33,294,000. Finally, Private Advisor Group LLC boosted its position in shares of Lockheed Martin by 11.0% in the fourth quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company's stock valued at $24,906,000 after acquiring an additional 5,075 shares during the period. 74.19% of the stock is owned by institutional investors.

Insider Transactions at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company'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 owns 2,000 shares in the company, valued at $884,840. This represents a 61.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the business's stock in a transaction on 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 $1,008,265.58. The trade was a 23.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,133 shares of company stock worth $3,155,916. Company insiders own 0.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LMT. JPMorgan Chase & Co. lowered their price target 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. Melius cut Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Robert W. Baird upgraded Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price objective on the stock in a research note on Wednesday, April 23rd. StockNews.com downgraded Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 3rd. Finally, Morgan Stanley upgraded Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price target on the stock in a research report on Wednesday, April 16th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Lockheed Martin currently has a consensus rating of "Moderate Buy" and a consensus price target of $541.80.

Lockheed Martin Price Performance

NYSE:LMT traded up $15.02 on Thursday, hitting $464.20. The company had a trading volume of 1,757,508 shares, compared to its average volume of 1,282,435. Lockheed Martin Co. has a 52 week low of $418.88 and a 52 week high of $618.95. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The stock has a market capitalization of $108.76 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 2.07 and a beta of 0.29. The firm has a 50 day moving average of $461.53 and a two-hundred day moving average of $481.21.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating the consensus estimate of $6.34 by $0.94. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. The company had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. On average, research analysts anticipate 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, June 27th. Investors of record on Monday, June 2nd will be issued a $3.30 dividend. The ex-dividend date is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.84%. 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.