Richwood Investment Advisors LLC Grows Stock Position in Lockheed Martin Co. (NYSE:LMT)

Richwood Investment Advisors LLC lifted its stake in Lockheed Martin Co. (NYSE:LMT) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,454 shares of the aerospace company’s stock after purchasing an additional 98 shares during the period. Lockheed Martin comprises about 1.4% of Richwood Investment Advisors LLC’s holdings, making the stock its 11th largest holding. Richwood Investment Advisors LLC’s holdings in Lockheed Martin were worth $1,678,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mosley Wealth Management lifted its holdings in Lockheed Martin by 12.1% during the 4th quarter. Mosley Wealth Management now owns 528 shares of the aerospace company’s stock worth $240,000 after buying an additional 57 shares during the last quarter. Sfmg LLC lifted its holdings in Lockheed Martin by 56.1% during the 4th quarter. Sfmg LLC now owns 1,363 shares of the aerospace company’s stock worth $662,000 after buying an additional 490 shares during the last quarter. Intellus Advisors LLC purchased a new stake in Lockheed Martin during the 4th quarter worth about $1,171,000. Forefront Wealth Management Inc. purchased a new stake in Lockheed Martin during the 4th quarter worth about $463,000. Finally, American Century Companies Inc. lifted its holdings in Lockheed Martin by 3.3% during the 4th quarter. American Century Companies Inc. now owns 174,126 shares of the aerospace company’s stock worth $84,615,000 after buying an additional 5,548 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LMT. Royal Bank of Canada decreased their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Truist Financial started coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and cut their target price for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. UBS Group cut their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $554.20.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $440.26 on Friday. The stock has a market capitalization of $103.63 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95. The stock’s 50-day moving average price is $460.94 and its 200 day moving average price is $514.87. 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 issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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 research analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 3.00%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Insiders Place Their Bets

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s 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 owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,133 shares of company stock worth $3,155,916. Company insiders own 0.14% of the company’s stock.

About Lockheed Martin

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.