Manning & Napier Advisors LLC lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 58,297 shares of the aerospace company's stock after selling 4,931 shares during the period. Manning & Napier Advisors LLC's holdings in Lockheed Martin were worth $28,329,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of LMT. Virtue Capital Management LLC lifted its holdings in Lockheed Martin by 112.8% in the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company's stock valued at $1,315,000 after buying an additional 1,192 shares during the period. Bank of Montreal Can lifted its stake in shares of Lockheed Martin by 2.1% in the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company's stock valued at $382,498,000 after buying an additional 13,253 shares in the last quarter. Hilltop Holdings Inc. lifted its stake in shares of Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company's stock valued at $7,054,000 after buying an additional 5,361 shares in the last quarter. Capital Investment Advisors LLC lifted its stake in shares of Lockheed Martin by 2.2% in the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company's stock valued at $44,770,000 after buying an additional 2,011 shares in the last quarter. Finally, Old West Investment Management LLC lifted its stake in shares of Lockheed Martin by 6.6% in the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company's stock valued at $15,569,000 after buying an additional 1,643 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. TD Cowen raised their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 3rd. Truist Financial initiated coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They issued a "buy" rating and a $579.00 price objective on the stock. Morgan Stanley lowered their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Lockheed Martin from $546.00 to $540.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Lockheed Martin presently has an average rating of "Moderate Buy" and an average price target of $556.13.
Check Out Our Latest Research Report on Lockheed Martin
Lockheed Martin Price Performance
LMT stock traded down $3.27 during midday trading on Wednesday, reaching $454.18. The company had a trading volume of 2,396,221 shares, compared to its average volume of 1,423,813. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The company has a market capitalization of $107.66 billion, a P/E ratio of 16.44, a P/E/G ratio of 4.05 and a beta of 0.48. The firm has a 50-day moving average price of $497.18 and a 200-day moving average price of $537.55.
Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping analysts' consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. On average, research analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.
Lockheed Martin Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued 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 2.91%. Lockheed Martin's payout ratio is 59.30%.
About Lockheed Martin
(
Free Report)
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.
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