Aspen Investment Management Inc Cuts Holdings in Lockheed Martin Co. (NYSE:LMT)

Aspen Investment Management Inc lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,919 shares of the aerospace company’s stock after selling 55 shares during the quarter. Aspen Investment Management Inc’s holdings in Lockheed Martin were worth $933,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in LMT. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin in the third quarter worth approximately $26,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin during the fourth quarter worth approximately $35,000. Capital Performance Advisors LLP bought a new stake in shares of Lockheed Martin in the 3rd quarter worth approximately $40,000. Legacy Investment Solutions LLC purchased a new stake in shares of Lockheed Martin in the 3rd quarter valued at $42,000. Finally, Vestor Capital LLC bought a new position in shares of Lockheed Martin during the 3rd quarter valued at $46,000. 74.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on LMT shares. 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 research note on Wednesday, January 29th. Truist Financial started coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. Royal Bank of Canada dropped their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company decreased their price target on Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. Finally, Barclays lowered their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $555.60.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $436.47 on Friday. 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 stock has a fifty day moving average of $471.01 and a 200 day moving average of $529.69. The firm has a market capitalization of $102.74 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 2.03 and a beta of 0.48. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping 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%. As a group, research analysts expect that Lockheed Martin Co. will post 27.14 earnings per share for the current year.

Lockheed Martin Dividend Announcement

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

Lockheed Martin Company 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.