Blue Trust Inc. Increases Stock Position in Lockheed Martin Co. (NYSE:LMT)

Blue Trust Inc. grew its holdings in Lockheed Martin Co. (NYSE:LMT) by 28.8% during the 4th quarter, Holdings Channel reports. The firm owned 9,934 shares of the aerospace company’s stock after buying an additional 2,222 shares during the period. Blue Trust Inc.’s holdings in Lockheed Martin were worth $4,827,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin during the third quarter worth $26,000. Heck Capital Advisors LLC purchased a new stake in Lockheed Martin during the 4th quarter worth about $35,000. Capital Performance Advisors LLP acquired a new position in Lockheed Martin in the 3rd quarter valued at about $40,000. Legacy Investment Solutions LLC purchased a new position in Lockheed Martin in the 3rd quarter valued at about $42,000. Finally, Vestor Capital LLC acquired a new stake in shares of Lockheed Martin during the 3rd quarter worth about $46,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 2.7 %

Shares of Lockheed Martin stock opened at $423.15 on Friday. Lockheed Martin Co. has a 1-year low of $418.58 and a 1-year high of $618.95. The company has a market capitalization of $99.60 billion, a PE ratio of 19.01, a P/E/G ratio of 2.12 and a beta of 0.48. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The business has a 50-day moving average of $478.88 and a 200-day moving average of $533.59.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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, equities analysts forecast that Lockheed Martin Co. will post 27.14 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is currently 59.30%.

Analysts Set New Price Targets

Several analysts have commented on LMT shares. Citigroup lowered their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Morgan Stanley decreased their price target on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Truist Financial began coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective for the company. StockNews.com cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, 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 research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $555.60.

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.