Gables Capital Management Inc. Raises Stake in Lockheed Martin Co. (NYSE:LMT)

Gables Capital Management Inc. boosted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 3.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,131 shares of the aerospace company’s stock after purchasing an additional 75 shares during the period. Gables Capital Management Inc.’s holdings in Lockheed Martin were worth $1,036,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of LMT. Capital Performance Advisors LLP purchased a new position in Lockheed Martin during the 3rd quarter worth $40,000. Assetmark Inc. grew its position in Lockheed Martin by 1.3% during the 3rd quarter. Assetmark Inc. now owns 1,470 shares of the aerospace company’s stock worth $859,000 after purchasing an additional 19 shares during the last quarter. Atria Investments Inc grew its position in Lockheed Martin by 4.1% during the 3rd quarter. Atria Investments Inc now owns 21,385 shares of the aerospace company’s stock worth $12,501,000 after purchasing an additional 843 shares during the last quarter. Axxcess Wealth Management LLC boosted its holdings in shares of Lockheed Martin by 20.1% in the third quarter. Axxcess Wealth Management LLC now owns 6,997 shares of the aerospace company’s stock valued at $4,090,000 after acquiring an additional 1,171 shares in the last quarter. Finally, Baker Avenue Asset Management LP boosted its holdings in shares of Lockheed Martin by 130.2% in the third quarter. Baker Avenue Asset Management LP now owns 1,411 shares of the aerospace company’s stock valued at $825,000 after acquiring an additional 798 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LMT has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their target price 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. UBS Group lowered their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Truist Financial initiated coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Finally, Susquehanna lowered their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $554.20.

Insiders Place Their Bets

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction dated 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 directly owns 2,000 shares in the company, valued at $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the sale, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,133 shares of company stock worth $3,155,916. Insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT opened at $478.42 on Tuesday. 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 stock has a market cap of $112.61 billion, a P/E ratio of 21.49, a PEG ratio of 2.07 and a beta of 0.43. The company has a 50-day moving average of $462.79 and a two-hundred day moving average of $520.80. Lockheed Martin Co. has a 12-month low of $419.70 and a 12-month high of $618.95.

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

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is currently 59.30%.

About Lockheed Martin

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.