LGT Fund Management Co Ltd. Buys New Position in Lockheed Martin Co. (NYSE:LMT)

LGT Fund Management Co Ltd. bought a new stake in shares of Lockheed Martin Co. (NYSE:LMT) during the 4th quarter, HoldingsChannel.com reports. The fund bought 4,792 shares of the aerospace company’s stock, valued at approximately $2,329,000.

Several other hedge funds also recently modified their holdings of the stock. DJE Kapital AG purchased a new position in shares of Lockheed Martin during the fourth quarter valued at approximately $389,000. Plato Investment Management Ltd boosted its position in Lockheed Martin by 64.4% in the fourth quarter. Plato Investment Management Ltd now owns 3,045 shares of the aerospace company’s stock worth $1,485,000 after purchasing an additional 1,193 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Lockheed Martin in the fourth quarter worth $3,368,000. Jones Financial Companies Lllp boosted its position in Lockheed Martin by 33.3% in the fourth quarter. Jones Financial Companies Lllp now owns 85,740 shares of the aerospace company’s stock worth $41,664,000 after purchasing an additional 21,437 shares during the last quarter. Finally, SRS Capital Advisors Inc. boosted its position in Lockheed Martin by 246.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,374 shares of the aerospace company’s stock worth $1,154,000 after purchasing an additional 1,689 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

LMT has been the topic of several research analyst reports. Susquehanna cut their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley cut their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. UBS Group cut their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Truist Financial initiated coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective on the stock. Finally, Royal Bank of Canada cut their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $553.67.

Lockheed Martin Stock Performance

NYSE:LMT opened at $451.44 on Tuesday. 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 Co. has a 52-week low of $419.70 and a 52-week high of $618.95. The firm has a market cap of $106.26 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 2.07 and a beta of 0.48. The business’s fifty day moving average is $465.09 and its 200 day moving average is $524.06.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) 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%. Research analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a dividend of $3.30 per share. 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 2.92%. Lockheed Martin’s payout ratio is 59.30%.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. This represents a 23.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 company 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.