Lockheed Martin Co. (NYSE:LMT) Position Trimmed by Cassaday & Co Wealth Management LLC

Cassaday & Co Wealth Management LLC reduced its holdings in Lockheed Martin Co. (NYSE:LMT) by 14.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,578 shares of the aerospace company’s stock after selling 768 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Lockheed Martin were worth $2,225,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Virtue Capital Management LLC grew its holdings in shares of Lockheed Martin by 112.8% during the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after purchasing an additional 1,192 shares during the last quarter. Bank of Montreal Can grew its stake in Lockheed Martin by 2.1% during the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after buying an additional 13,253 shares during the last quarter. Hilltop Holdings Inc. increased its position in Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after buying an additional 5,361 shares during the period. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in Lockheed Martin by 51.7% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after buying an additional 3,247 shares during the last quarter. Finally, Capital Investment Advisors LLC boosted its holdings in shares of Lockheed Martin by 2.2% during the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after acquiring an additional 2,011 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Trading Up 0.8 %

LMT stock opened at $436.47 on Friday. The company has a market cap of $102.74 billion, a P/E ratio of 19.61, a PEG ratio of 2.05 and a beta of 0.48. Lockheed Martin Co. has a twelve month low of $419.70 and a twelve month high of $618.95. 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 business has a fifty day moving average of $471.01 and a 200-day moving average of $529.69.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping 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%. As a group, equities research analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 3.02%. Lockheed Martin’s payout ratio is 59.30%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Truist Financial started coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. Citigroup lowered their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Finally, StockNews.com cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $555.60.

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.