LGT Fund Management Co Ltd. Makes New $2.33 Million Investment in Lockheed Martin Co. (NYSE:LMT)

LGT Fund Management Co Ltd. purchased a new position in Lockheed Martin Co. (NYSE:LMT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,792 shares of the aerospace company’s stock, valued at approximately $2,329,000.

A number of other hedge funds also recently modified their holdings of LMT. Optas LLC boosted its stake in shares of Lockheed Martin by 6.0% during the third quarter. Optas LLC now owns 532 shares of the aerospace company’s stock valued at $311,000 after purchasing an additional 30 shares in the last quarter. Lodestone Wealth Management LLC acquired a new stake in shares of Lockheed Martin during the third quarter valued at about $209,000. BSW Wealth Partners acquired a new stake in shares of Lockheed Martin during the third quarter valued at about $490,000. Lansing Street Advisors acquired a new stake in shares of Lockheed Martin during the third quarter valued at about $213,000. Finally, Donaldson Capital Management LLC boosted its stake in shares of Lockheed Martin by 1.3% during the third quarter. Donaldson Capital Management LLC now owns 125,271 shares of the aerospace company’s stock valued at $73,229,000 after purchasing an additional 1,598 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. Citigroup cut their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Susquehanna lowered their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research report on Wednesday, January 29th. Morgan Stanley lowered their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Finally, Truist Financial initiated coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $553.67.

Lockheed Martin Trading Up 0.2 %

Shares of LMT stock opened at $451.44 on Tuesday. The company has a market cap of $106.26 billion, a P/E ratio of 20.28, a PEG ratio of 2.07 and a beta of 0.48. The stock has a 50 day simple moving average of $465.09 and a two-hundred day simple moving average of $524.06. 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 fifty-two week low of $419.70 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping 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 forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.92%. Lockheed Martin’s dividend payout ratio is 59.30%.

Insider Activity

In other news, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the sale, the insider now owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock worth $3,155,916 over the last quarter. 0.17% of the stock is currently owned by corporate insiders.

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.