Kestra Investment Management LLC Acquires 510 Shares of Lockheed Martin Co. (NYSE:LMT)

Kestra Investment Management LLC increased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 59.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,362 shares of the aerospace company’s stock after purchasing an additional 510 shares during the quarter. Kestra Investment Management LLC’s holdings in Lockheed Martin were worth $662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in shares of Lockheed Martin during the third quarter valued at $26,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin in the fourth quarter valued at about $35,000. Capital Performance Advisors LLP bought a new position in Lockheed Martin in the third quarter valued at about $40,000. Legacy Investment Solutions LLC bought a new position in Lockheed Martin in the third quarter valued at about $42,000. Finally, Vestor Capital LLC bought a new position in Lockheed Martin in the third quarter valued at about $46,000. 74.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Truist Financial assumed coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. Barclays lowered their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Morgan Stanley decreased their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $555.60.

Lockheed Martin Stock Performance

NYSE:LMT opened at $428.35 on Wednesday. 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 Co. has a 12-month low of $419.70 and a 12-month high of $618.95. The stock has a 50-day moving average price of $473.65 and a 200 day moving average price of $531.03. The stock has a market capitalization of $100.83 billion, a P/E ratio of 19.24, a P/E/G ratio of 2.12 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last released 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%. Equities research analysts forecast that Lockheed Martin Co. will post 27.14 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 3.08%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 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.