Orca Wealth Management LLC Makes New Investment in Lockheed Martin Co. (NYSE:LMT)

Orca Wealth Management LLC purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,613 shares of the aerospace company's stock, valued at approximately $1,270,000.

A number of other hedge funds also recently bought and sold shares of LMT. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin in the third quarter valued at $26,000. Mattson Financial Services LLC acquired a new position in shares of Lockheed Martin during the 2nd quarter worth about $27,000. Burkett Financial Services LLC acquired a new stake in shares of Lockheed Martin during the 3rd quarter worth about $32,000. Capital Performance Advisors LLP purchased a new stake in Lockheed Martin during the third quarter worth approximately $40,000. Finally, Legacy Investment Solutions LLC acquired a new position in Lockheed Martin in the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Stock Performance

NYSE:LMT traded down $3.27 during mid-day trading on Wednesday, reaching $454.18. The stock 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 quick ratio of 1.12 and a current ratio of 1.30. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The firm has a market capitalization of $107.66 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 4.05 and a beta of 0.48. The business has a 50 day simple moving average of $497.18 and a 200 day simple moving average of $537.55.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data 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, analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid 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 yield of 2.91%. Lockheed Martin's payout ratio is 59.30%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LMT shares. Morgan Stanley lowered their target price on shares of Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating for the company in a report on Wednesday. Susquehanna dropped their price objective on Lockheed Martin from $590.00 to $550.00 and set a "positive" rating on the stock in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on Lockheed Martin from $546.00 to $540.00 and set an "overweight" rating for the company in a report on Thursday, January 16th. Truist Financial assumed coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a "buy" rating and a $579.00 price target on the stock. Finally, Robert W. Baird increased their price objective on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lockheed Martin currently has a consensus rating of "Moderate Buy" and a consensus target price of $556.13.

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.