Heritage Investors Management Corp Acquires 335 Shares of Lockheed Martin Co. (NYSE:LMT)

Heritage Investors Management Corp boosted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,524 shares of the aerospace company’s stock after acquiring an additional 335 shares during the quarter. Heritage Investors Management Corp’s holdings in Lockheed Martin were worth $11,431,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. abrdn plc increased its holdings in Lockheed Martin by 14.8% in the third quarter. abrdn plc now owns 21,036 shares of the aerospace company’s stock valued at $12,240,000 after purchasing an additional 2,707 shares during the period. Nicholas Hoffman & Company LLC. grew its position in shares of Lockheed Martin by 3.3% in the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 3,014 shares of the aerospace company’s stock valued at $1,762,000 after buying an additional 95 shares during the last quarter. Childress Capital Advisors LLC increased its stake in shares of Lockheed Martin by 3.9% in the third quarter. Childress Capital Advisors LLC now owns 823 shares of the aerospace company’s stock valued at $481,000 after buying an additional 31 shares during the period. Avitas Wealth Management LLC raised its position in shares of Lockheed Martin by 1.0% during the third quarter. Avitas Wealth Management LLC now owns 5,285 shares of the aerospace company’s stock worth $3,089,000 after acquiring an additional 51 shares during the last quarter. Finally, Walter & Keenan Wealth Management LLC IN ADV lifted its stake in shares of Lockheed Martin by 1.4% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 1,629 shares of the aerospace company’s stock worth $952,000 after acquiring an additional 23 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LMT has been the subject of several analyst reports. Truist Financial assumed coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target for the company. StockNews.com downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Royal Bank of Canada cut their price target on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Wells Fargo & Company lowered their price objective on Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Morgan Stanley cut their target price on 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 investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $553.67.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $441.56 on Thursday. Lockheed Martin Co. has a twelve month low of $419.70 and a twelve month high of $618.95. The stock’s 50 day moving average is $467.23 and its 200-day moving average is $526.63. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $103.94 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.07 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping 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%. Sell-side analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a $3.30 dividend. 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 presently 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.