Lockheed Martin Co. (NYSE:LMT) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 5.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 693,918 shares of the aerospace company’s stock after purchasing an additional 37,111 shares during the quarter. Bank of Montreal Can’s holdings in Lockheed Martin were worth $337,202,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Arete Wealth Advisors LLC acquired a new position in Lockheed Martin during the third quarter worth $1,840,000. Morse Asset Management Inc grew its holdings in shares of Lockheed Martin by 1.0% in the third quarter. Morse Asset Management Inc now owns 3,058 shares of the aerospace company’s stock valued at $1,788,000 after purchasing an additional 31 shares during the period. EP Wealth Advisors LLC increased its position in Lockheed Martin by 21.3% during the third quarter. EP Wealth Advisors LLC now owns 15,634 shares of the aerospace company’s stock worth $9,139,000 after purchasing an additional 2,748 shares during the last quarter. iA Global Asset Management Inc. raised its stake in Lockheed Martin by 144.1% during the third quarter. iA Global Asset Management Inc. now owns 4,659 shares of the aerospace company’s stock worth $2,723,000 after purchasing an additional 2,750 shares during the period. Finally, DF Dent & Co. Inc. acquired a new position in Lockheed Martin in the 3rd quarter valued at about $229,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The transaction 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 stock in a transaction that occurred 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 transaction, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,133 shares of company stock worth $3,155,916. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LMT shares. Royal Bank of Canada downgraded shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Susquehanna cut their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, January 29th. Truist Financial began coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target on the stock. StockNews.com downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Tuesday, April 1st. Finally, Melius Research lowered Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. One 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. According to data from MarketBeat.com, Lockheed Martin currently has an average rating of “Hold” and a consensus price target of $539.53.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $432.72 on Monday. Lockheed Martin Co. has a one year low of $413.96 and a one year 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 business has a fifty day moving average of $451.38 and a two-hundred day moving average of $505.61. The company has a market cap of $101.50 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT) last posted its earnings results 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 return on equity of 101.47% and a net margin of 7.51%. As a group, analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were paid a $3.30 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 3.05%. Lockheed Martin’s payout ratio is currently 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.