Jacobi Capital Management LLC Boosts Stake in Lockheed Martin Co. (NYSE:LMT)

Jacobi Capital Management LLC increased its position in Lockheed Martin Co. (NYSE:LMT) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,233 shares of the aerospace company’s stock after buying an additional 296 shares during the period. Jacobi Capital Management LLC’s holdings in Lockheed Martin were worth $3,515,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the 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 sale, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is currently owned by corporate insiders.

Lockheed Martin Stock Up 0.8 %

Shares of NYSE:LMT opened at $450.19 on Friday. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95. The stock has a market cap of $105.97 billion, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The business’s 50 day moving average is $465.79 and its 200 day moving average is $525.34. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data 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%. Sell-side analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given 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 2.93%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Analyst Ratings Changes

LMT has been the topic of a number of recent research reports. 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 on the stock. Wells Fargo & Company decreased their price objective on Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Royal Bank of Canada decreased their price objective 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. Barclays decreased their price objective 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. Finally, Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price objective for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $553.67.

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.