Prairie Wealth Advisors Inc. Makes New $224,000 Investment in Lockheed Martin Co. (NYSE:LMT)

Prairie Wealth Advisors Inc. purchased a new stake in Lockheed Martin Co. (NYSE:LMT) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 460 shares of the aerospace company’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CVA Family Office LLC boosted its stake in Lockheed Martin by 1.1% during the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after acquiring an additional 17 shares in the last quarter. AllGen Financial Advisors Inc. raised its holdings in shares of Lockheed Martin by 4.0% during the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after purchasing an additional 18 shares during the period. Salomon & Ludwin LLC boosted its position in shares of Lockheed Martin by 20.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 18 shares in the last quarter. Sunburst Financial Group LLC grew its stake in shares of Lockheed Martin by 3.3% in the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after buying an additional 18 shares during the period. Finally, Quad Cities Investment Group LLC increased its position in Lockheed Martin by 1.2% in the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after buying an additional 19 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Royal Bank of Canada cut their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Susquehanna decreased their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company dropped their price objective on shares of Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. Finally, 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average price target of $555.60.

Lockheed Martin Trading Down 0.4 %

Lockheed Martin stock opened at $448.29 on Friday. The stock has a market cap of $105.52 billion, a P/E ratio of 20.14, a PEG ratio of 2.96 and a beta of 0.48. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The firm’s fifty day moving average price is $488.10 and its 200-day moving average price is $536.42. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping 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%. Equities research analysts forecast that Lockheed Martin Co. will post 27.29 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s payout ratio is currently 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.