Richwood Investment Advisors LLC Raises Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Richwood Investment Advisors LLC boosted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,454 shares of the aerospace company’s stock after purchasing an additional 98 shares during the quarter. Lockheed Martin makes up 1.4% of Richwood Investment Advisors LLC’s holdings, making the stock its 11th largest position. Richwood Investment Advisors LLC’s holdings in Lockheed Martin were worth $1,678,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin during the third quarter worth approximately $26,000. Millstone Evans Group LLC purchased a new position in Lockheed Martin during the fourth quarter worth approximately $32,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin during the fourth quarter worth approximately $35,000. Legacy Investment Solutions LLC purchased a new position in Lockheed Martin during the third quarter worth approximately $42,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Lockheed Martin in the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insiders Place Their Bets

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction on 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 sale, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin 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 completion of the sale, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock valued at $3,155,916 over the last quarter. 0.14% of the stock is owned by insiders.

Lockheed Martin Price Performance

LMT stock opened at $440.26 on Friday. The business has a fifty day moving average of $460.94 and a two-hundred day moving average of $514.87. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The stock has a market cap of $103.63 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95.

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

Lockheed Martin Announces Dividend

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 paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 3.00%. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LMT shares. Truist Financial started coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. Royal Bank of Canada decreased their target price 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. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and decreased their target price for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Susquehanna decreased their target price 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. Finally, Barclays decreased 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 investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $554.20.

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.