Lockheed Martin Co. (NYSE:LMT) Stake Increased by Mission Wealth Management LP

Mission Wealth Management LP raised its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 9.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,841 shares of the aerospace company’s stock after acquiring an additional 419 shares during the quarter. Mission Wealth Management LP’s holdings in Lockheed Martin were worth $2,353,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC lifted its holdings in Lockheed Martin by 53,784.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock worth $600,412,000 after buying an additional 1,233,275 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Lockheed Martin by 1,239.6% during the 4th quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock valued at $266,410,000 after acquiring an additional 507,312 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in Lockheed Martin by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after purchasing an additional 249,591 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares during the period. Finally, FMR LLC increased its stake in Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after purchasing an additional 209,591 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on LMT shares. JPMorgan Chase & Co. decreased their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Truist Financial assumed coverage on Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price for the company. Citigroup cut their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. 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. Finally, Barclays dropped their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $553.67.

Lockheed Martin Stock Up 0.2 %

LMT stock opened at $451.44 on Tuesday. The firm’s 50-day moving average is $465.09 and its two-hundred day moving average is $524.06. The company has a market capitalization of $106.26 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. Lockheed Martin Co. has a 52 week low of $419.70 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.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping 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%. On average, analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is currently 59.30%.

Insiders Place Their Bets

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the sale, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is owned by corporate insiders.

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.