NewEdge Advisors LLC Grows Stake in Lockheed Martin Co. (NYSE:LMT)

NewEdge Advisors LLC lifted its position in Lockheed Martin Co. (NYSE:LMT - Free Report) by 6.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,889 shares of the aerospace company's stock after purchasing an additional 2,210 shares during the quarter. NewEdge Advisors LLC's holdings in Lockheed Martin were worth $17,440,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Resurgent Financial Advisors LLC grew its stake in shares of Lockheed Martin by 5.1% during the fourth quarter. Resurgent Financial Advisors LLC now owns 1,365 shares of the aerospace company's stock valued at $663,000 after buying an additional 66 shares during the last quarter. Insigneo Advisory Services LLC grew its position in Lockheed Martin by 1.9% during the 4th quarter. Insigneo Advisory Services LLC now owns 3,928 shares of the aerospace company's stock worth $1,909,000 after acquiring an additional 74 shares during the last quarter. Finer Wealth Management Inc. increased its stake in Lockheed Martin by 8.7% in the 4th quarter. Finer Wealth Management Inc. now owns 3,162 shares of the aerospace company's stock worth $1,536,000 after purchasing an additional 252 shares during the period. Stenger Family Office LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter valued at approximately $1,434,000. Finally, Evergreen Capital Management LLC increased its stake in shares of Lockheed Martin by 6.4% in the fourth quarter. Evergreen Capital Management LLC now owns 11,115 shares of the aerospace company's stock worth $5,401,000 after buying an additional 673 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Down 1.7 %

NYSE:LMT traded down $7.82 during mid-day trading on Monday, hitting $456.26. 375,614 shares of the company's stock were exchanged, compared to its average volume of 1,241,558. The company has a market cap of $107.03 billion, a PE ratio of 20.50, a P/E/G ratio of 2.07 and a beta of 0.39. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. Lockheed Martin Co. has a one year low of $418.88 and a one year high of $618.95. The business has a fifty day moving average price of $452.24 and a 200 day moving average price of $495.75.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued 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 return on equity of 101.47% and a net margin of 7.51%. Equities analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

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

Insider Transactions at Lockheed Martin

In other news, VP Harry Edward Paul III sold 707 shares of the company's 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 transaction, the vice president now directly owns 2,278 shares of the company's stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction dated 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 completion of the sale, the insider now owns 2,000 shares of the company's stock, valued at $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock valued at $3,155,916 in the last quarter. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Truist Financial started coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a "buy" rating and a $579.00 price target on the stock. Melius cut Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Susquehanna lowered their price target on Lockheed Martin from $590.00 to $550.00 and set a "positive" rating for the company in a research report on Wednesday, January 29th. Barclays reduced their target price on Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating on the stock in a research note on Monday, January 6th. Finally, UBS Group dropped their price target on Lockheed Martin from $527.00 to $508.00 and set a "neutral" rating for the company in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Lockheed Martin currently has a consensus rating of "Hold" and an average price target of $539.93.

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.