Lockheed Martin Co. (NYSE:LMT) Shares Bought by Florida Financial Advisors LLC

Florida Financial Advisors LLC raised its position in shares of Lockheed Martin Co. (NYSE:LMT) by 29.2% during the 4th quarter, Holdings Channel reports. The firm owned 1,150 shares of the aerospace company’s stock after buying an additional 260 shares during the quarter. Florida Financial Advisors LLC’s holdings in Lockheed Martin were worth $559,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin in the third quarter valued at approximately $26,000. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter worth $32,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin during the fourth quarter valued at $35,000. Legacy Investment Solutions LLC purchased a new stake in Lockheed Martin in the third quarter valued at $42,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Lockheed Martin during the 4th quarter worth about $42,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 1.1 %

NYSE LMT opened at $434.72 on Tuesday. The business has a fifty day moving average price of $459.96 and a 200 day moving average price of $513.50. 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 company has a market cap of $102.33 billion, a P/E ratio of 19.53, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its 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%. Research analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business 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 dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LMT shares. Truist Financial began coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. Barclays lowered their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Morgan Stanley cut their target price on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company reissued an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. Finally, Royal Bank of Canada cut their price objective 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and an average target price of $544.20.

Insider Activity

In other news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 represents a 23.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the sale, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock worth $3,155,916 over the last ninety days. Corporate insiders own 0.17% of the company’s stock.

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.