PKS Advisory Services LLC Acquires New Holdings in Lockheed Martin Co. (NYSE:LMT)

PKS Advisory Services LLC bought a new position in Lockheed Martin Co. (NYSE:LMT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 798 shares of the aerospace company’s stock, valued at approximately $388,000.

Several other hedge funds also recently modified their holdings of LMT. Prestige Wealth Management Group LLC boosted its holdings in Lockheed Martin by 2.5% in the fourth quarter. Prestige Wealth Management Group LLC now owns 1,659 shares of the aerospace company’s stock worth $806,000 after purchasing an additional 41 shares in the last quarter. TIAA Trust National Association lifted its position in shares of Lockheed Martin by 16.1% in the fourth quarter. TIAA Trust National Association now owns 10,757 shares of the aerospace company’s stock worth $5,227,000 after buying an additional 1,488 shares during the last quarter. Ashton Thomas Securities LLC boosted its stake in shares of Lockheed Martin by 5.0% during the 4th quarter. Ashton Thomas Securities LLC now owns 4,734 shares of the aerospace company’s stock worth $2,300,000 after acquiring an additional 225 shares in the last quarter. Princeton Capital Management LLC increased its holdings in shares of Lockheed Martin by 13.0% during the 4th quarter. Princeton Capital Management LLC now owns 750 shares of the aerospace company’s stock valued at $364,000 after acquiring an additional 86 shares during the last quarter. Finally, Modern Wealth Management LLC raised its stake in shares of Lockheed Martin by 33.9% in the 4th quarter. Modern Wealth Management LLC now owns 1,039 shares of the aerospace company’s stock valued at $466,000 after acquiring an additional 263 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

LMT opened at $442.63 on Wednesday. The stock’s 50 day simple moving average is $459.13 and its 200-day simple moving average is $512.63. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The stock has a market cap of $104.19 billion, a PE ratio of 19.88, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (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%. Sell-side analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Insider Buying and Selling

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’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 sale, the insider now owns 2,000 shares of the company’s stock, valued at approximately $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock worth $3,155,916 in the last 90 days. 0.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on LMT shares. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. StockNews.com upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Monday. Truist Financial began coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price for the company. Barclays lowered their price target 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. Finally, UBS Group dropped their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $544.20.

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.