Rathbones Group PLC trimmed its stake in Lockheed Martin Corporation (NYSE:LMT – Free Report) by 0.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 199,489 shares of the aerospace company’s stock after selling 1,704 shares during the period. Rathbones Group PLC’s holdings in Lockheed Martin were worth $96,487,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in LMT. Oppenheimer & Co. Inc. increased its position in Lockheed Martin by 9.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 39,410 shares of the aerospace company’s stock worth $19,674,000 after buying an additional 3,352 shares during the period. Welch Group LLC increased its position in Lockheed Martin by 1.5% in the 4th quarter. Welch Group LLC now owns 132,684 shares of the aerospace company’s stock worth $64,175,000 after buying an additional 1,999 shares during the period. Jain Global LLC bought a new position in Lockheed Martin in the 3rd quarter worth approximately $38,064,000. Atlantic Union Bankshares Corp increased its position in shares of Lockheed Martin by 182.0% during the third quarter. Atlantic Union Bankshares Corp now owns 37,014 shares of the aerospace company’s stock valued at $18,478,000 after purchasing an additional 23,888 shares during the period. Finally, Clough Capital Partners L P bought a new stake in shares of Lockheed Martin during the third quarter valued at approximately $31,018,000. 74.19% of the stock is owned by institutional investors.
Lockheed Martin Price Performance
Lockheed Martin stock opened at $522.32 on Thursday. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.94 and a current ratio of 1.14. The firm has a market cap of $120.43 billion, a P/E ratio of 25.29, a P/E/G ratio of 0.95 and a beta of 0.10. The business’s fifty day moving average is $582.60 and its two-hundred day moving average is $555.98. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $692.00.
Lockheed Martin Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Monday, June 1st will be paid a $3.45 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $13.80 dividend on an annualized basis and a yield of 2.6%. Lockheed Martin’s payout ratio is currently 66.83%.
Wall Street Analyst Weigh In
LMT has been the topic of a number of research reports. The Goldman Sachs Group boosted their price objective on Lockheed Martin from $464.00 to $517.00 and gave the company a “sell” rating in a research report on Monday, February 2nd. Truist Financial boosted their price objective on Lockheed Martin from $605.00 to $695.00 and gave the company a “buy” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. lowered their price objective on Lockheed Martin from $680.00 to $605.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on Lockheed Martin from $615.00 to $575.00 and set a “hold” rating on the stock in a research report on Friday, April 24th. Finally, Susquehanna lowered their price objective on Lockheed Martin from $740.00 to $700.00 and set a “positive” rating on the stock in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $620.68.
Check Out Our Latest Report on Lockheed Martin
About Lockheed Martin
Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.
Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.
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