Hurley Capital LLC Invests $774,000 in Lockheed Martin Co. (NYSE:LMT)

Hurley Capital LLC bought a new stake in Lockheed Martin Co. (NYSE:LMT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,606 shares of the aerospace company’s stock, valued at approximately $774,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arete Wealth Advisors LLC acquired a new position in Lockheed Martin in the third quarter worth about $1,840,000. Morse Asset Management Inc raised its holdings in shares of Lockheed Martin by 1.0% in the 3rd quarter. Morse Asset Management Inc now owns 3,058 shares of the aerospace company’s stock worth $1,788,000 after buying an additional 31 shares in the last quarter. Royal London Asset Management Ltd. lifted its position in shares of Lockheed Martin by 2.7% during the 3rd quarter. Royal London Asset Management Ltd. now owns 88,472 shares of the aerospace company’s stock worth $51,717,000 after buying an additional 2,350 shares during the period. SYM FINANCIAL Corp acquired a new stake in Lockheed Martin in the 3rd quarter valued at $240,000. Finally, Worldquant Millennium Advisors LLC grew its position in Lockheed Martin by 11.7% in the third quarter. Worldquant Millennium Advisors LLC now owns 142,259 shares of the aerospace company’s stock valued at $83,159,000 after acquiring an additional 14,887 shares during the period. 74.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of analyst reports. Wells Fargo & Company reissued an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. Morgan Stanley reduced their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Barclays dropped their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. UBS Group reduced their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Finally, Royal Bank of Canada lowered Lockheed Martin from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $550.00 to $480.00 in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $539.53.

Insider Activity at Lockheed Martin

In other 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 value of $1,421,495.46. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now directly 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 quarter, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is owned by insiders.

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $432.72 on Friday. The stock has a market capitalization of $101.50 billion, a P/E ratio of 19.44, a P/E/G ratio of 2.07 and a beta of 0.39. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 1-year low of $419.70 and a 1-year high of $618.95. The business has a 50-day moving average price of $451.38 and a two-hundred day moving average price of $506.46.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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 analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were paid a dividend of $3.30 per share. The ex-dividend date was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.05%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

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.