Ieq Capital LLC Decreases Holdings in Lockheed Martin Co. (NYSE:LMT)

Ieq Capital LLC cut its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 9.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,378 shares of the aerospace company’s stock after selling 1,364 shares during the period. Ieq Capital LLC’s holdings in Lockheed Martin were worth $6,501,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its stake in shares of Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after purchasing an additional 1,556,609 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Lockheed Martin by 1,239.6% in the 4th quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after purchasing an additional 507,312 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Lockheed Martin by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after purchasing an additional 249,591 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Up 0.8 %

LMT opened at $436.47 on Friday. The firm has a 50-day simple moving average of $471.01 and a two-hundred day simple moving average of $529.69. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95. The company has a market capitalization of $102.74 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 2.03 and a beta of 0.48. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

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

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LMT. Royal Bank of Canada reduced their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company reduced their price objective on Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating for the company in a research note on Thursday, January 30th. Truist Financial began coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. Morgan Stanley dropped their target price on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Finally, Citigroup dropped their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.