Frederick Financial Consultants LLC Acquires New Stake in Lockheed Martin Co. (NYSE:LMT)

Frederick Financial Consultants LLC bought a new position in Lockheed Martin Co. (NYSE:LMT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,048 shares of the aerospace company’s stock, valued at approximately $1,481,000. Lockheed Martin accounts for 1.2% of Frederick Financial Consultants LLC’s investment portfolio, making the stock its 21st largest holding.

A number of other large investors have also recently added to or reduced their stakes in LMT. Morse Asset Management Inc grew its holdings in shares of Lockheed Martin by 1.0% in the 3rd quarter. Morse Asset Management Inc now owns 3,058 shares of the aerospace company’s stock valued at $1,788,000 after acquiring an additional 31 shares in the last quarter. Tudor Financial Inc. acquired a new position in Lockheed Martin during the third quarter valued at approximately $557,000. Anchor Investment Management LLC increased its position in shares of Lockheed Martin by 8.4% during the 3rd quarter. Anchor Investment Management LLC now owns 4,125 shares of the aerospace company’s stock worth $2,411,000 after purchasing an additional 320 shares during the last quarter. Fulcrum Equity Management raised its stake in shares of Lockheed Martin by 4.7% during the 3rd quarter. Fulcrum Equity Management now owns 900 shares of the aerospace company’s stock worth $526,000 after purchasing an additional 40 shares in the last quarter. Finally, Sculati Wealth Management LLC acquired a new stake in shares of Lockheed Martin in the 3rd quarter valued at approximately $258,000. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup lowered their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Truist Financial started coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. Melius Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Morgan Stanley raised Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective for the company in a research report on Wednesday. Finally, 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $539.93.

Lockheed Martin Stock Performance

NYSE LMT opened at $463.80 on Friday. Lockheed Martin Co. has a 12-month low of $418.88 and a 12-month high of $618.95. The firm has a 50-day moving average price of $451.95 and a two-hundred day moving average price of $498.23. The company has a market capitalization of $108.79 billion, a P/E ratio of 20.84, a P/E/G ratio of 2.07 and a beta of 0.39. 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 (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Monday, March 3rd. Lockheed Martin’s payout ratio is currently 59.30%.

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 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 completion of the transaction, the insider now directly owns 2,000 shares in the company, valued at $884,840. The trade was a 61.63 % 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 link. Also, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction 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 directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock valued at $3,155,916 over the last quarter. 0.14% of the stock is owned by corporate insiders.

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.