Kestra Investment Management LLC Increases Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Kestra Investment Management LLC lifted its stake in Lockheed Martin Co. (NYSE:LMT) by 59.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,362 shares of the aerospace company’s stock after buying an additional 510 shares during the period. Kestra Investment Management LLC’s holdings in Lockheed Martin were worth $662,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in shares of Lockheed Martin in the 3rd quarter worth approximately $26,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin in the 4th quarter worth approximately $35,000. Capital Performance Advisors LLP purchased a new position in shares of Lockheed Martin in the 3rd quarter worth approximately $40,000. Legacy Investment Solutions LLC purchased a new position in shares of Lockheed Martin in the 3rd quarter worth approximately $42,000. Finally, Vestor Capital LLC purchased a new position in shares of Lockheed Martin in the 3rd quarter worth approximately $46,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 1.2 %

Shares of NYSE:LMT opened at $428.35 on Wednesday. Lockheed Martin Co. has a 12-month low of $419.70 and a 12-month high of $618.95. The business’s fifty day simple moving average is $473.65 and its 200-day simple moving average is $531.03. The company has a market capitalization of $100.83 billion, a PE ratio of 19.24, a P/E/G ratio of 2.12 and a beta of 0.48. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results 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%. As a group, equities research analysts predict that Lockheed Martin Co. will post 27.14 earnings per share for the current fiscal 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 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 3.08%. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LMT shares. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price target for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. Susquehanna decreased their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, January 29th. Truist Financial started coverage on Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target for the company. TD Cowen raised their price target on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley decreased their price target on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. One equities 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 issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $555.60.

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.