Hoey Investments Inc. Boosts Position in Lockheed Martin Co. (NYSE:LMT)

Hoey Investments Inc. boosted its holdings in Lockheed Martin Co. (NYSE:LMT - Free Report) by 33.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,304 shares of the aerospace company's stock after buying an additional 583 shares during the quarter. Lockheed Martin makes up about 0.2% of Hoey Investments Inc.'s holdings, making the stock its 26th largest position. Hoey Investments Inc.'s holdings in Lockheed Martin were worth $1,120,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LMT. Alliancebernstein L.P. lifted its stake in Lockheed Martin by 9.0% during the fourth quarter. Alliancebernstein L.P. now owns 298,373 shares of the aerospace company's stock worth $144,991,000 after purchasing an additional 24,530 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new stake in shares of Lockheed Martin during the 4th quarter worth approximately $178,000. Meeder Asset Management Inc. boosted its holdings in shares of Lockheed Martin by 918.2% in the 4th quarter. Meeder Asset Management Inc. now owns 336 shares of the aerospace company's stock valued at $163,000 after buying an additional 303 shares in the last quarter. FSB Premier Wealth Management Inc. grew its position in shares of Lockheed Martin by 8.5% in the 4th quarter. FSB Premier Wealth Management Inc. now owns 982 shares of the aerospace company's stock valued at $477,000 after buying an additional 77 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in Lockheed Martin by 6.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 151,696 shares of the aerospace company's stock valued at $73,715,000 after acquiring an additional 8,763 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several equities analysts have issued reports on LMT shares. Barclays dropped their price objective on Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating on the stock in a report on Monday, January 6th. StockNews.com cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Tuesday. Susquehanna decreased their price target on Lockheed Martin from $590.00 to $550.00 and set a "positive" rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. cut their price objective on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. Finally, Truist Financial initiated coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a "buy" rating and a $579.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $539.53.

Lockheed Martin Trading Up 1.0 %

Shares of NYSE LMT traded up $4.61 during midday trading on Thursday, reaching $457.48. 952,164 shares of the stock were exchanged, compared to its average volume of 1,210,623. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The company has a market capitalization of $107.31 billion, a P/E ratio of 20.55, a P/E/G ratio of 2.07 and a beta of 0.39. The stock has a 50 day moving average price of $453.52 and a 200-day moving average price of $507.80. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly 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 research analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin's payout ratio is 59.30%.

Insider Buying and Selling at Lockheed Martin

In related 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 shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock worth $3,155,916 in the last 90 days. 0.17% of the stock is owned by company insiders.

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.