Mystic Asset Management Inc. Increases Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Mystic Asset Management Inc. lifted its position in Lockheed Martin Co. (NYSE:LMT) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,718 shares of the aerospace company’s stock after buying an additional 262 shares during the quarter. Mystic Asset Management Inc.’s holdings in Lockheed Martin were worth $2,293,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LMT. Itau Unibanco Holding S.A. purchased a new stake in shares of Lockheed Martin in the third quarter worth about $26,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth about $35,000. Legacy Investment Solutions LLC purchased a new stake in shares of Lockheed Martin in the third quarter worth about $42,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth about $47,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth about $52,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. The trade was a 61.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,133 shares of company stock worth $3,155,916. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of recent analyst reports. Barclays lowered their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. Truist Financial initiated 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 on the stock. Morgan Stanley lowered their target price on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Finally, UBS Group lowered their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. One 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 MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $554.20.

Lockheed Martin Stock Up 0.2 %

Shares of NYSE LMT opened at $467.32 on Tuesday. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The firm’s 50 day simple moving average is $461.40 and its two-hundred day simple moving average is $517.49. The stock has a market capitalization of $110.00 billion, a P/E ratio of 20.99, a PEG ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is 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.