Elevate Capital Advisors LLC Invests $796,000 in Lockheed Martin Co. (NYSE:LMT)

Elevate Capital Advisors 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 & Exchange Commission. The fund bought 1,639 shares of the aerospace company’s stock, valued at approximately $796,000.

A number of other institutional investors and hedge funds have also made changes to their positions in LMT. CVA Family Office LLC boosted its holdings in shares of Lockheed Martin by 1.1% during the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after acquiring an additional 17 shares during the period. AllGen Financial Advisors Inc. grew its holdings in Lockheed Martin by 4.0% in the 3rd quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after buying an additional 18 shares in the last quarter. Salomon & Ludwin LLC raised its stake in Lockheed Martin by 20.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 18 shares in the last quarter. Sunburst Financial Group LLC grew its stake in shares of Lockheed Martin by 3.3% in the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after purchasing an additional 18 shares in the last quarter. Finally, Quad Cities Investment Group LLC raised its stake in shares of Lockheed Martin by 1.2% during the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after purchasing an additional 19 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LMT has been the topic of several research analyst reports. UBS Group lowered their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. TD Cowen raised their target price on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Truist Financial began coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target on the stock. Finally, Robert W. Baird raised their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $555.60.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $444.05 on Monday. The company’s fifty day moving average is $484.84 and its two-hundred day moving average is $535.84. The company has a market cap of $104.52 billion, a P/E ratio of 19.95, a price-to-earnings-growth ratio of 2.12 and a beta of 0.48. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results 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 return on equity of 101.47% and a net margin of 7.51%. Equities analysts expect that Lockheed Martin Co. will post 27.14 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.97%. Lockheed Martin’s dividend payout ratio 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.