Private Management Group Inc. Acquires 57 Shares of Lockheed Martin Co. (NYSE:LMT)

Private Management Group Inc. grew its position in shares of Lockheed Martin Co. (NYSE:LMT) by 14.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 461 shares of the aerospace company’s stock after purchasing an additional 57 shares during the quarter. Private Management Group Inc.’s holdings in Lockheed Martin were worth $224,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in LMT. Algert Global LLC acquired a new stake in shares of Lockheed Martin during the second quarter valued at about $277,000. Marcum Wealth LLC boosted its stake in shares of Lockheed Martin by 2.3% during the third quarter. Marcum Wealth LLC now owns 1,848 shares of the aerospace company’s stock valued at $1,080,000 after purchasing an additional 41 shares in the last quarter. Wedmont Private Capital boosted its stake in shares of Lockheed Martin by 10.5% during the third quarter. Wedmont Private Capital now owns 2,893 shares of the aerospace company’s stock valued at $1,752,000 after purchasing an additional 274 shares in the last quarter. Patten Group Inc. boosted its stake in shares of Lockheed Martin by 5.1% during the third quarter. Patten Group Inc. now owns 2,593 shares of the aerospace company’s stock valued at $1,516,000 after purchasing an additional 126 shares in the last quarter. Finally, High Note Wealth LLC boosted its stake in shares of Lockheed Martin by 2.5% during the third quarter. High Note Wealth LLC now owns 4,760 shares of the aerospace company’s stock valued at $2,783,000 after purchasing an additional 117 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of recent analyst reports. Barclays cut their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. TD Cowen lifted their price objective on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada cut their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. UBS Group cut 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. Finally, Citigroup cut their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $555.60.

Lockheed Martin Trading Down 0.4 %

NYSE LMT opened at $448.29 on Friday. The company has a market cap of $105.52 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 2.96 and a beta of 0.48. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The business has a 50 day moving average price of $488.10 and a 200-day moving average price of $536.42. 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 released its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, equities analysts expect that Lockheed Martin Co. will post 27.29 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.94%. Lockheed Martin’s dividend payout ratio is 59.30%.

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.