Principal Financial Group Inc. Reduces Stock Position in Lockheed Martin Co. (NYSE:LMT)

Principal Financial Group Inc. cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 0.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 268,465 shares of the aerospace company’s stock after selling 2,414 shares during the quarter. Principal Financial Group Inc.’s holdings in Lockheed Martin were worth $130,458,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of LMT. International Assets Investment Management LLC increased its holdings in Lockheed Martin by 60,592.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after purchasing an additional 1,556,609 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Lockheed Martin by 1,239.6% in the 4th quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after acquiring an additional 507,312 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Lockheed Martin by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after acquiring an additional 249,591 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after acquiring an additional 240,306 shares in the last quarter. Finally, FMR LLC grew its position in shares of Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after acquiring an additional 209,591 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Up 1.2 %

LMT opened at $428.35 on Wednesday. The stock’s fifty day moving average is $475.34 and its 200-day moving average is $531.88. The company has a market capitalization of $100.83 billion, a PE ratio of 19.24, a P/E/G ratio of 2.12 and a beta of 0.48. 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 Co. has a one year low of $419.70 and a one year 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, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, equities analysts predict that Lockheed Martin Co. will post 27.14 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 3.08%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. UBS Group decreased their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Truist Financial assumed coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. Citigroup reduced their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Robert W. Baird boosted their price objective on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Finally, Morgan Stanley reduced their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus target price of $555.60.

Lockheed Martin 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.