Edge Capital Group LLC Boosts Stake in Lockheed Martin Co. (NYSE:LMT)

Edge Capital Group LLC raised its position in Lockheed Martin Co. (NYSE:LMT) by 5.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 12,841 shares of the aerospace company’s stock after purchasing an additional 718 shares during the period. Edge Capital Group LLC’s holdings in Lockheed Martin were worth $6,240,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AllGen Financial Advisors Inc. increased its position in shares of Lockheed Martin by 4.0% in the 3rd quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after purchasing an additional 18 shares during the last quarter. Salomon & Ludwin LLC increased its position in shares of Lockheed Martin by 20.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after purchasing an additional 18 shares during the last quarter. Sunburst Financial Group LLC increased its position in shares of Lockheed Martin by 3.3% in the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after purchasing an additional 18 shares during the last quarter. Lmcg Investments LLC increased its position in shares of Lockheed Martin by 3.0% in the 3rd quarter. Lmcg Investments LLC now owns 651 shares of the aerospace company’s stock valued at $381,000 after purchasing an additional 19 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of Lockheed Martin by 1.3% in the 3rd quarter. Assetmark Inc. now owns 1,470 shares of the aerospace company’s stock valued at $859,000 after buying an additional 19 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on LMT shares. Truist Financial started coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. Barclays decreased 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 report on Monday, January 6th. StockNews.com downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. UBS Group dropped their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company decreased their price objective on shares of Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and an average price target of $555.60.

Lockheed Martin Stock Up 1.1 %

Shares of NYSE:LMT opened at $441.20 on Monday. 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 Co. has a 12-month low of $419.70 and a 12-month high of $618.95. The company has a fifty day simple moving average of $469.94 and a 200 day simple moving average of $528.75. The firm has a market cap of $103.85 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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 anticipate that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders 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 dividend yield of 2.99%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

Lockheed Martin Company 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.