WealthPlan Investment Management LLC Increases Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

WealthPlan Investment Management LLC lifted its position in Lockheed Martin Co. (NYSE:LMT) by 1.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 15,687 shares of the aerospace company’s stock after purchasing an additional 213 shares during the period. WealthPlan Investment Management LLC’s holdings in Lockheed Martin were worth $7,623,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BXM Wealth LLC purchased a new stake in Lockheed Martin in the fourth quarter valued at approximately $215,000. WASHINGTON TRUST Co raised its stake in Lockheed Martin by 0.5% in the fourth quarter. WASHINGTON TRUST Co now owns 31,103 shares of the aerospace company’s stock valued at $15,114,000 after purchasing an additional 156 shares in the last quarter. PUREfi Wealth LLC purchased a new stake in Lockheed Martin in the fourth quarter valued at approximately $233,000. Quadrant Private Wealth Management LLC raised its stake in Lockheed Martin by 3.2% in the fourth quarter. Quadrant Private Wealth Management LLC now owns 3,272 shares of the aerospace company’s stock valued at $1,590,000 after purchasing an additional 101 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Lockheed Martin by 28.8% in the fourth quarter. Blue Trust Inc. now owns 9,934 shares of the aerospace company’s stock valued at $4,827,000 after purchasing an additional 2,222 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price target for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Citigroup reduced their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Truist Financial began coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. TD Cowen raised their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Susquehanna cut their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $555.60.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $423.15 on Friday. Lockheed Martin Co. has a fifty-two week low of $418.58 and a fifty-two week high of $618.95. The business has a 50-day simple moving average of $478.88 and a two-hundred day simple moving average of $533.59. 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 firm has a market cap of $99.60 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 2.12 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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%. On average, analysts expect that Lockheed Martin Co. will post 27.14 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.12%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

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.