Empirical Finance LLC Reduces Holdings in Lockheed Martin Co. (NYSE:LMT)

Empirical Finance LLC lowered its stake in Lockheed Martin Co. (NYSE:LMT) by 1.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,692 shares of the aerospace company’s stock after selling 110 shares during the quarter. Empirical Finance LLC’s holdings in Lockheed Martin were worth $3,738,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of LMT. Virtue Capital Management LLC grew its stake in Lockheed Martin by 112.8% in the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after acquiring an additional 1,192 shares during the period. Bank of Montreal Can raised its stake in Lockheed Martin by 2.1% during the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after purchasing an additional 13,253 shares during the period. Hilltop Holdings Inc. grew its stake in shares of Lockheed Martin by 79.9% during the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after buying an additional 5,361 shares during the period. Capital Investment Advisors LLC increased its holdings in shares of Lockheed Martin by 2.2% during the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock worth $44,770,000 after buying an additional 2,011 shares during the last quarter. Finally, Old West Investment Management LLC grew its position in Lockheed Martin by 6.6% during the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after acquiring an additional 1,643 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LMT shares. Wells Fargo & Company decreased their target price on Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. Citigroup cut their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Truist Financial initiated coverage on Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. Barclays lowered 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 report on Monday, January 6th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $555.60.

Lockheed Martin Price Performance

Shares of LMT opened at $444.05 on Friday. The firm has a market capitalization of $104.52 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 2.12 and a beta of 0.48. The stock’s fifty day moving average is $484.84 and its 200-day moving average is $535.60. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. 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 (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating 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%. Equities analysts anticipate that Lockheed Martin Co. will post 27.14 EPS for the current year.

Lockheed Martin Announces Dividend

The firm 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 $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 dividend yield of 2.97%. Lockheed Martin’s payout ratio is currently 59.30%.

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.