Kornitzer Capital Management Inc. KS Sells 77 Shares of Lockheed Martin Co. (NYSE:LMT)

Kornitzer Capital Management Inc. KS reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,414 shares of the aerospace company’s stock after selling 77 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Lockheed Martin were worth $2,145,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Sequoia Financial Advisors LLC raised its position in shares of Lockheed Martin by 17.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 12,288 shares of the aerospace company’s stock valued at $7,183,000 after buying an additional 1,814 shares in the last quarter. Eastern Bank purchased a new stake in shares of Lockheed Martin during the 3rd quarter valued at about $773,000. Waldron Private Wealth LLC raised its position in shares of Lockheed Martin by 17.8% during the 3rd quarter. Waldron Private Wealth LLC now owns 1,665 shares of the aerospace company’s stock valued at $973,000 after buying an additional 252 shares in the last quarter. ODonnell Financial Services LLC purchased a new stake in shares of Lockheed Martin during the 3rd quarter valued at about $205,000. Finally, Tempus Wealth Planning LLC raised its position in shares of Lockheed Martin by 22.1% during the 3rd quarter. Tempus Wealth Planning LLC now owns 952 shares of the aerospace company’s stock valued at $557,000 after buying an additional 172 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Price Performance

NYSE LMT opened at $432.68 on Thursday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The firm’s 50 day moving average price is $472.21 and its 200-day moving average price is $530.35. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95. The company has a market cap of $101.85 billion, a PE ratio of 19.44, a P/E/G ratio of 2.00 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data 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 net margin of 7.51% and a return on equity of 101.47%. Sell-side analysts forecast that Lockheed Martin Co. will post 27.14 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.05%. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LMT. Wells Fargo & Company decreased their target price on shares of Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th. Royal Bank of Canada cut their price target 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. Morgan Stanley cut their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Truist Financial initiated coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. Finally, StockNews.com downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $555.60.

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.