Golden State Wealth Management LLC Makes New $1.33 Million Investment in Lockheed Martin Co. (NYSE:LMT)

Golden State Wealth Management LLC acquired a new stake in shares of Lockheed Martin Co. (NYSE:LMT) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,738 shares of the aerospace company’s stock, valued at approximately $1,331,000.

A number of other institutional investors have also recently made changes to their positions in LMT. Algert Global LLC purchased a new position in shares of Lockheed Martin in the second quarter worth $277,000. Marcum Wealth LLC increased its holdings in Lockheed Martin by 2.3% in the 3rd quarter. Marcum Wealth LLC now owns 1,848 shares of the aerospace company’s stock worth $1,080,000 after buying an additional 41 shares during the period. Wedmont Private Capital raised its position in Lockheed Martin by 10.5% during the 3rd quarter. Wedmont Private Capital now owns 2,893 shares of the aerospace company’s stock worth $1,752,000 after buying an additional 274 shares during the last quarter. Patten Group Inc. lifted its stake in Lockheed Martin by 5.1% during the 3rd quarter. Patten Group Inc. now owns 2,593 shares of the aerospace company’s stock valued at $1,516,000 after acquiring an additional 126 shares during the period. Finally, High Note Wealth LLC lifted its stake in Lockheed Martin by 2.5% during the 3rd quarter. High Note Wealth LLC now owns 4,760 shares of the aerospace company’s stock valued at $2,783,000 after acquiring an additional 117 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.4 %

Shares of NYSE:LMT opened at $448.29 on Friday. The firm has a market capitalization of $105.52 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 2.96 and a beta of 0.48. The business’s 50 day moving average price is $488.10 and its 200-day moving average price is $536.42. 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 1 year low of $413.92 and a 1 year high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities research analysts forecast that Lockheed Martin Co. will post 27.29 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company 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. 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 2.94%. Lockheed Martin’s payout ratio is currently 59.30%.

Wall Street Analysts Forecast Growth

LMT has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Citigroup reduced their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Truist Financial initiated coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. Royal Bank of Canada dropped their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Finally, StockNews.com downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $555.60.

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.