Pitcairn Co. Increases Stake in Lockheed Martin Co. (NYSE:LMT)

Pitcairn Co. raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 7.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,548 shares of the aerospace company’s stock after purchasing an additional 604 shares during the quarter. Pitcairn Co.’s holdings in Lockheed Martin were worth $4,154,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LMT. CFS Investment Advisory Services LLC lifted its stake in shares of Lockheed Martin by 2.0% during the 4th quarter. CFS Investment Advisory Services LLC now owns 1,091 shares of the aerospace company’s stock valued at $530,000 after buying an additional 21 shares in the last quarter. Wynn Capital LLC raised its holdings in Lockheed Martin by 1.0% during the 4th quarter. Wynn Capital LLC now owns 2,185 shares of the aerospace company’s stock valued at $1,062,000 after acquiring an additional 22 shares during the period. PBMares Wealth Management LLC lifted its position in shares of Lockheed Martin by 0.6% during the fourth quarter. PBMares Wealth Management LLC now owns 3,745 shares of the aerospace company’s stock worth $1,820,000 after acquiring an additional 22 shares in the last quarter. Nvwm LLC boosted its holdings in shares of Lockheed Martin by 2.5% in the fourth quarter. Nvwm LLC now owns 908 shares of the aerospace company’s stock worth $441,000 after acquiring an additional 22 shares during the period. Finally, Schear Investment Advisers LLC grew its position in shares of Lockheed Martin by 2.0% in the fourth quarter. Schear Investment Advisers LLC now owns 1,147 shares of the aerospace company’s stock valued at $557,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

NYSE:LMT opened at $452.92 on Thursday. The business has a 50 day moving average price of $453.52 and a 200-day moving average price of $507.80. Lockheed Martin Co. has a fifty-two week low of $419.70 and a fifty-two week high of $618.95. 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 has a market cap of $106.24 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39.

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

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Insiders Place Their Bets

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the company’s 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 completion of the transaction, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction dated 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 directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LMT. UBS Group reduced their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. 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 target price on the stock. Wells Fargo & Company restated an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. Susquehanna lowered their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. Finally, StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin has an average rating of “Hold” and an average price target of $539.53.

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.