NewEdge Advisors LLC Boosts Holdings in Lockheed Martin Co. (NYSE:LMT)

NewEdge Advisors LLC lifted its holdings in Lockheed Martin Co. (NYSE:LMT) by 6.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,889 shares of the aerospace company’s stock after purchasing an additional 2,210 shares during the period. NewEdge Advisors LLC’s holdings in Lockheed Martin were worth $17,440,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in LMT. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter valued at $32,000. Mizuho Securities Co. Ltd. purchased a new stake in Lockheed Martin during the 4th quarter worth about $34,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at about $35,000. Redwood Park Advisors LLC purchased a new position in shares of Lockheed Martin in the 4th quarter valued at about $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Lockheed Martin during the fourth quarter worth about $42,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock valued at $3,155,916 in the last ninety days. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Truist Financial started coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. Barclays lowered their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Bank of America cut Lockheed Martin from a “buy” rating to a “neutral” rating and cut their price target for the company from $685.00 to $485.00 in a research note on Monday, March 24th. Melius cut Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, Wells Fargo & Company cut their target price on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin has an average rating of “Hold” and a consensus price target of $539.93.

Lockheed Martin Price Performance

LMT stock opened at $477.25 on Thursday. The business has a 50 day simple moving average of $451.64 and a 200-day simple moving average of $499.06. The company has a market capitalization of $111.95 billion, a P/E ratio of 21.44, a PEG ratio of 2.07 and a beta of 0.39. Lockheed Martin Co. has a twelve month low of $418.88 and a twelve month high of $618.95. 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 (NYSE:LMT) last issued 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 net margin of 7.51% and a return on equity of 101.47%. As a group, equities analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.77%. The ex-dividend date was Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) 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.