Truist Financial Corp Grows Holdings in Lockheed Martin Co. (NYSE:LMT)

Truist Financial Corp grew its stake in Lockheed Martin Co. (NYSE:LMT) by 0.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 271,868 shares of the aerospace company’s stock after buying an additional 2,051 shares during the quarter. Truist Financial Corp’s holdings in Lockheed Martin were worth $132,111,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Virtue Capital Management LLC lifted its holdings in shares of Lockheed Martin by 112.8% in the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after acquiring an additional 1,192 shares during the last quarter. Bank of Montreal Can raised its holdings 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 valued at $382,498,000 after buying an additional 13,253 shares during the last quarter. Hilltop Holdings Inc. raised its holdings in Lockheed Martin by 79.9% during the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after buying an additional 5,361 shares during the last quarter. Capital Investment Advisors LLC raised its holdings in Lockheed Martin by 2.2% during the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after buying an additional 2,011 shares during the last quarter. Finally, Old West Investment Management LLC raised its holdings in Lockheed Martin by 6.6% during the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after buying an additional 1,643 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on LMT shares. TD Cowen upped their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird upped their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Truist Financial began coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. Finally, UBS Group reduced their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $555.60.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $423.15 on Monday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The company has a market capitalization of $99.60 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 2.12 and a beta of 0.48. The company’s 50-day moving average is $477.08 and its 200 day moving average is $532.77. Lockheed Martin Co. has a one year low of $418.58 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its 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 net margin of 7.51% and a return on equity of 101.47%. Sell-side analysts expect that Lockheed Martin Co. will post 27.14 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

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.