Purkiss Capital Advisors LLC Invests $382,000 in Lockheed Martin Co. (NYSE:LMT)

Purkiss Capital Advisors LLC bought a new position in Lockheed Martin Co. (NYSE:LMT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 786 shares of the aerospace company's stock, valued at approximately $382,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of Lockheed Martin by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company's stock worth $2,816,898,000 after buying an additional 83,997 shares in the last quarter. FMR LLC grew its position in Lockheed Martin by 6.6% in the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company's stock worth $1,981,088,000 after acquiring an additional 209,591 shares in the last quarter. Wellington Management Group LLP grew its position in Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company's stock worth $1,797,437,000 after acquiring an additional 240,306 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Lockheed Martin by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company's stock worth $847,361,000 after acquiring an additional 15,085 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its position in Lockheed Martin by 53,784.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company's stock valued at $600,412,000 after purchasing an additional 1,233,275 shares during the period. 74.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of recent research reports. Citigroup dropped their target price on Lockheed Martin from $700.00 to $600.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. UBS Group cut their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 29th. Truist Financial initiated coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a "buy" rating and a $579.00 target price for the company. Royal Bank of Canada dropped their price target on shares of Lockheed Martin from $570.00 to $550.00 and set an "outperform" rating for the company in a research note on Wednesday, January 29th. Finally, Morgan Stanley reduced 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, January 29th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $553.67.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the 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 sale, the vice president now owns 2,278 shares of the company's stock, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction 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 transaction, the insider now owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,133 shares of company stock valued at $3,155,916. Company insiders own 0.17% of the company's stock.

Lockheed Martin Trading Up 0.8 %

Shares of Lockheed Martin stock traded up $3.73 on Friday, hitting $450.19. 1,432,091 shares of the company traded hands, compared to its average volume of 1,574,859. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95. The company has a market cap of $105.97 billion, a PE ratio of 20.22, a PEG ratio of 2.07 and a beta of 0.48. The stock's 50 day moving average price is $465.79 and its 200-day moving average price is $525.10. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating 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 research analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.93%. The ex-dividend date is Monday, March 3rd. Lockheed Martin's payout ratio is 59.30%.

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.