Aviance Capital Partners LLC Purchases 431 Shares of Lockheed Martin Co. (NYSE:LMT)

Aviance Capital Partners LLC grew its position in shares of Lockheed Martin Co. (NYSE:LMT) by 2.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,149 shares of the aerospace company’s stock after acquiring an additional 431 shares during the quarter. Lockheed Martin makes up 1.1% of Aviance Capital Partners LLC’s holdings, making the stock its 17th largest holding. Aviance Capital Partners LLC’s holdings in Lockheed Martin were worth $7,847,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in Lockheed Martin by 17.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after purchasing an additional 1,132,461 shares during the period. Geode Capital Management LLC raised its holdings in Lockheed Martin by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock worth $2,816,898,000 after purchasing an additional 83,997 shares during the period. FMR LLC raised its holdings in Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares during the period. Wellington Management Group LLP raised its holdings in Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Lockheed Martin by 0.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company’s stock worth $847,361,000 after purchasing an additional 15,085 shares during the period. 74.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LMT shares. Truist Financial started coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. Royal Bank of Canada decreased their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Barclays decreased their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Citigroup cut their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Finally, Susquehanna cut their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $553.67.

Lockheed Martin Trading Up 0.2 %

Shares of Lockheed Martin stock opened at $461.17 on Friday. The firm has a market cap of $108.55 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 2.07 and a beta of 0.43. The business has a 50-day moving average price of $463.18 and a 200-day moving average price of $522.42. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a twelve month low of $419.70 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Equities 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 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 is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.86%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Insider Buying and Selling

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction dated 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 trade represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 of the company’s stock, valued at $884,840. This represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,133 shares of company stock worth $3,155,916. 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.