Lockheed Martin Co. (NYSE:LMT) Shares Bought by NewEdge Wealth LLC

NewEdge Wealth LLC raised its position in Lockheed Martin Co. (NYSE:LMT - Free Report) by 7.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,946 shares of the aerospace company's stock after purchasing an additional 3,322 shares during the quarter. NewEdge Wealth LLC's holdings in Lockheed Martin were worth $22,813,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LMT. Itau Unibanco Holding S.A. purchased a new position in shares of Lockheed Martin during the third quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new position in shares of Lockheed Martin during the third quarter worth approximately $40,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin during the fourth quarter worth approximately $35,000. Legacy Investment Solutions LLC purchased a new position in shares of Lockheed Martin during the third quarter worth approximately $42,000. Finally, Vestor Capital LLC purchased a new position in shares of Lockheed Martin during the third quarter worth approximately $46,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Up 0.8 %

LMT traded up $3.73 during trading on Friday, hitting $450.19. The stock had a trading volume of 1,432,091 shares, compared to its average volume of 1,574,859. The company has a market capitalization of $105.97 billion, a PE ratio of 20.22, a PEG ratio of 2.07 and a beta of 0.48. Lockheed Martin Co. has a twelve month low of $419.70 and a twelve month high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The stock has a 50 day simple moving average of $465.79 and a two-hundred day simple moving average of $525.10.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, research analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 2.93%. Lockheed Martin's dividend payout ratio is currently 59.30%.

Insiders Place Their Bets

In related news, VP Harry Edward Paul III sold 707 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the transaction, the vice president now owns 2,278 shares of the company's stock, valued at $1,008,265.58. This trade 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 at this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm'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 directly owns 2,000 shares of the company's stock, valued at approximately $884,840. This trade represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

LMT has been the topic of a number of research reports. Susquehanna reduced their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a "positive" rating on the stock in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating and reduced their target price for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. 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 objective on the stock. Finally, Barclays dropped their price objective on shares of 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $553.67.

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.