Lee Danner & Bass Inc. Takes $58,000 Position in Lockheed Martin Co. (NYSE:LMT)

Lee Danner & Bass Inc. purchased a new position in Lockheed Martin Co. (NYSE:LMT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 120 shares of the aerospace company’s stock, valued at approximately $58,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Kiker Wealth Management LLC purchased a new position in Lockheed Martin during the fourth quarter worth about $210,000. Lowe Brockenbrough & Co. Inc. increased its position in shares of Lockheed Martin by 3.6% during the fourth quarter. Lowe Brockenbrough & Co. Inc. now owns 14,334 shares of the aerospace company’s stock valued at $6,965,000 after acquiring an additional 495 shares during the last quarter. Clear Investment Research LLC increased its position in shares of Lockheed Martin by 10.6% during the fourth quarter. Clear Investment Research LLC now owns 303 shares of the aerospace company’s stock valued at $148,000 after acquiring an additional 29 shares during the last quarter. Holderness Investments Co. increased its position in shares of Lockheed Martin by 1.0% during the fourth quarter. Holderness Investments Co. now owns 4,254 shares of the aerospace company’s stock valued at $2,067,000 after acquiring an additional 42 shares during the last quarter. Finally, HUB Investment Partners LLC grew its holdings in shares of Lockheed Martin by 15.2% in the fourth quarter. HUB Investment Partners LLC now owns 17,389 shares of the aerospace company’s stock valued at $8,450,000 after purchasing an additional 2,296 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 5.7 %

LMT stock opened at $440.26 on Friday. The company has a fifty day moving average price of $460.94 and a 200 day moving average price of $514.87. Lockheed Martin Co. has a 12 month low of $419.70 and a 12 month high of $618.95. The company has a market cap of $103.63 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. 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 (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 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%. Sell-side analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 3.00%. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Citigroup dropped their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada lowered their price target on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Truist Financial began 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. UBS Group lowered their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Finally, Susquehanna lowered their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. One 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $554.20.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock worth $3,155,916 in the last 90 days. 0.14% of the stock is owned by insiders.

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.