Lockheed Martin Co. (NYSE:LMT) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp raised its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1,239.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 548,237 shares of the aerospace company’s stock after purchasing an additional 507,312 shares during the period. Van ECK Associates Corp owned 0.23% of Lockheed Martin worth $266,410,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. AllGen Financial Advisors Inc. boosted its stake in Lockheed Martin by 4.0% during the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after buying an additional 18 shares during the last quarter. Salomon & Ludwin LLC boosted its holdings 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 during the period. Sunburst Financial Group LLC grew its holdings 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 during the last quarter. Quad Cities Investment Group LLC increased its position 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 worth $919,000 after acquiring an additional 19 shares during the period. Finally, Lmcg Investments LLC raised its position in Lockheed Martin by 3.0% during the 3rd quarter. Lmcg Investments LLC now owns 651 shares of the aerospace company’s stock valued at $381,000 after purchasing an additional 19 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

LMT opened at $441.67 on Thursday. The firm has a market cap of $103.96 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.12 and a beta of 0.48. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month 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 company has a fifty day simple moving average of $482.05 and a 200 day simple moving average of $534.93.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating 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%. Equities research analysts expect that Lockheed Martin Co. will post 27.14 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 dividend on an annualized basis and a yield of 2.99%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price 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. Royal Bank of Canada dropped their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Wells Fargo & Company cut their price objective on shares of Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Truist Financial started coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently 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.