Lockheed Martin Co. (NYSE:LMT) Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC grew its holdings in Lockheed Martin Co. (NYSE:LMT) by 22.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 95,391 shares of the aerospace company’s stock after buying an additional 17,583 shares during the quarter. Lazard Asset Management LLC’s holdings in Lockheed Martin were worth $46,354,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Proficio Capital Partners LLC grew its holdings in shares of Lockheed Martin by 53,784.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock valued at $600,412,000 after purchasing an additional 1,233,275 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Lockheed Martin by 17.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after purchasing an additional 1,132,461 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at about $526,587,000. Leigh Baldwin & CO. LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at about $451,985,000. Finally, Van ECK Associates Corp grew its holdings in shares of Lockheed Martin by 1,239.6% in the fourth quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock valued at $266,410,000 after purchasing an additional 507,312 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 0.1%

Shares of NYSE:LMT opened at $473.12 on Tuesday. The firm’s 50 day moving average price is $462.09 and its 200 day moving average price is $481.59. The stock has a market cap of $110.85 billion, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. Lockheed Martin Co. has a fifty-two week low of $418.88 and a fifty-two week 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.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating the consensus estimate of $6.34 by $0.94. The firm had revenue of $17.96 billion for the quarter, compared to analysts’ expectations of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, equities research analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be issued a $3.30 dividend. The ex-dividend date is Monday, June 2nd. This represents a $13.20 annualized dividend and a yield of 2.79%. Lockheed Martin’s dividend payout ratio (DPR) is 57.02%.

Insiders Place Their Bets

In other Lockheed Martin 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Harry Edward Paul III sold 707 shares of the firm’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 transaction of $312,925.27. Following the sale, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. The trade was a 23.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 3rd. Truist Financial began coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price for the company. Bank of America lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. UBS Group increased their target price on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 23rd. Finally, Melius lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus target price of $541.80.

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.