Atlantic Union Bankshares Corp Grows Position in Lockheed Martin Co. (NYSE:LMT)

Atlantic Union Bankshares Corp grew its stake in Lockheed Martin Co. (NYSE:LMT - Free Report) by 200.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,551 shares of the aerospace company's stock after buying an additional 4,371 shares during the period. Atlantic Union Bankshares Corp's holdings in Lockheed Martin were worth $3,183,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Itau Unibanco Holding S.A. acquired a new position in shares of Lockheed Martin in the third quarter valued at about $26,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin in the 4th quarter worth approximately $35,000. Capital Performance Advisors LLP purchased a new position in Lockheed Martin during the 3rd quarter worth approximately $40,000. Legacy Investment Solutions LLC purchased a new stake in shares of Lockheed Martin in the 3rd quarter valued at $42,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of Lockheed Martin in the 4th quarter valued at $47,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Up 2.8 %

LMT stock opened at $474.31 on Friday. 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 Co. has a 52 week low of $419.70 and a 52 week high of $618.95. The stock has a market capitalization of $111.65 billion, a P/E ratio of 21.31, a P/E/G ratio of 2.07 and a beta of 0.43. The firm has a 50-day simple moving average of $462.89 and a 200-day simple moving average of $521.59.

Remove Ads

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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%. Equities analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin's dividend payout ratio is currently 59.30%.

Wall Street Analyst Weigh In

LMT has been the subject of a number of research reports. Truist Financial started coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a "buy" rating and a $579.00 target price for the company. Citigroup reduced their price objective on Lockheed Martin from $700.00 to $600.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. lowered their target price on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Wells Fargo & Company lifted their price target on Lockheed Martin from $468.00 to $476.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Morgan Stanley lowered their price objective on Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $554.20.

Insider Buying and Selling

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the company's stock in a transaction 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 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.