SLT Holdings LLC Purchases Shares of 589 Lockheed Martin Co. (NYSE:LMT)

SLT Holdings LLC purchased a new stake in Lockheed Martin Co. (NYSE:LMT) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 589 shares of the aerospace company’s stock, valued at approximately $286,000.

A number of other hedge funds also recently bought and sold shares of the stock. AlphaQuest LLC raised its position in Lockheed Martin by 39.1% in the 4th quarter. AlphaQuest LLC now owns 3,531 shares of the aerospace company’s stock valued at $1,716,000 after purchasing an additional 992 shares in the last quarter. Miramar Capital LLC raised its position in shares of Lockheed Martin by 4.4% during the 4th quarter. Miramar Capital LLC now owns 22,328 shares of the aerospace company’s stock worth $10,850,000 after acquiring an additional 937 shares in the last quarter. Coordinated Financial Services Inc. acquired a new stake in shares of Lockheed Martin during the 4th quarter worth about $297,000. Atlantic Union Bankshares Corp raised its position in shares of Lockheed Martin by 200.5% during the 4th quarter. Atlantic Union Bankshares Corp now owns 6,551 shares of the aerospace company’s stock worth $3,183,000 after acquiring an additional 4,371 shares in the last quarter. Finally, Amundi raised its position in shares of Lockheed Martin by 5.6% during the 4th quarter. Amundi now owns 22,132 shares of the aerospace company’s stock worth $10,377,000 after acquiring an additional 1,179 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on LMT. Royal Bank of Canada cut their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. Truist Financial initiated coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. Finally, Citigroup cut their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. One 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $554.20.

Insider Activity at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin 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 transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction on Wednesday, February 26th. The stock was 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. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock worth $3,155,916 over the last three months. 0.17% of the stock is currently owned by corporate insiders.

Lockheed Martin Trading Up 2.8 %

Shares of LMT stock opened at $474.31 on Friday. The business’s 50 day moving average is $462.89 and its two-hundred day moving average is $521.59. Lockheed Martin Co. has a twelve month low of $419.70 and a twelve month high of $618.95. The company has a market capitalization of $111.65 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. 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 posted its quarterly earnings results 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%. Equities analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

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 paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.78%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

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.