Rossby Financial LCC Buys Shares of 1,822 Lockheed Martin Co. (NYSE:LMT)

Rossby Financial LCC purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,822 shares of the aerospace company’s stock, valued at approximately $885,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Millstone Evans Group LLC acquired a new position in Lockheed Martin in the 4th quarter valued at $32,000. Mizuho Securities Co. Ltd. bought a new stake in Lockheed Martin in the 4th quarter valued at $34,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin in the 4th quarter worth $35,000. Redwood Park Advisors LLC bought a new position in shares of Lockheed Martin during the 4th quarter worth about $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Lockheed Martin during the fourth quarter valued at about $42,000. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. Bank of America lowered Lockheed Martin from a “buy” rating to a “neutral” rating and cut their target price for the company from $685.00 to $485.00 in a research note on Monday, March 24th. Truist Financial started coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. 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 research note on Monday, January 6th. Finally, Royal Bank of Canada lowered shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Hold” and an average target price of $536.60.

Lockheed Martin Trading Up 2.5 %

LMT stock opened at $475.11 on Monday. The business has a fifty day moving average price of $450.03 and a 200 day moving average price of $500.17. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. Lockheed Martin Co. has a fifty-two week low of $418.88 and a fifty-two week high of $618.95. The stock has a market capitalization of $111.45 billion, a price-to-earnings ratio of 21.34, a P/E/G ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were given a $3.30 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.78%. Lockheed Martin’s payout ratio is 59.30%.

Insider Activity

In other 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 transaction of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares in the company, valued at $884,840. The trade was a 61.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the transaction, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,133 shares of company stock valued at $3,155,916. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Company 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.