Holderness Investments Co. Increases Position in Lockheed Martin Co. (NYSE:LMT)

Holderness Investments Co. lifted its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,254 shares of the aerospace company’s stock after acquiring an additional 42 shares during the quarter. Holderness Investments Co.’s holdings in Lockheed Martin were worth $2,067,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new stake in shares of Lockheed Martin in the 3rd quarter worth approximately $26,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $35,000. Legacy Investment Solutions LLC bought a new stake in shares of Lockheed Martin in the 3rd quarter worth approximately $42,000. Sugar Maple Asset Management LLC bought a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $47,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $52,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.9 %

Lockheed Martin stock opened at $466.48 on Friday. The stock has a market cap of $109.80 billion, a P/E ratio of 20.96, a PEG ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a fifty-two week low of $419.70 and a fifty-two week high of $618.95. The firm’s fifty day moving average price is $461.50 and its 200-day moving average price is $516.12. 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 (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Equities research analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.83%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Insider Buying and Selling

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were 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 directly owns 2,278 shares in the company, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s 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 sale, the insider now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Truist Financial assumed coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. 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. Citigroup lowered their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Finally, StockNews.com cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $554.20.

Lockheed Martin 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.