Connor Clark & Lunn Investment Management Ltd. Makes New $10.67 Million Investment in Lockheed Martin Co. (NYSE:LMT)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 21,951 shares of the aerospace company’s stock, valued at approximately $10,667,000.

Other large investors have also recently bought and sold shares of the company. Virtue Capital Management LLC lifted its holdings in Lockheed Martin by 112.8% during the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after buying an additional 1,192 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Lockheed Martin by 2.1% in the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after purchasing an additional 13,253 shares during the period. Hilltop Holdings Inc. lifted its stake in shares of Lockheed Martin by 79.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after purchasing an additional 5,361 shares during the period. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in shares of Lockheed Martin by 51.7% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after purchasing an additional 3,247 shares during the period. Finally, Capital Investment Advisors LLC lifted its stake in shares of Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after purchasing an additional 2,011 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Transactions at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock worth $3,155,916 in the last three months. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Truist Financial assumed coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target on the stock. UBS Group cut their price target 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. Susquehanna cut their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. StockNews.com downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Barclays lowered their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have issued 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $554.20.

Lockheed Martin Price Performance

LMT stock opened at $467.07 on Friday. The stock has a 50-day moving average price of $461.39 and a two-hundred day moving average price of $518.80. The stock has a market cap of $109.94 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Equities analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

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 dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.83%. Lockheed Martin’s dividend payout ratio is 59.30%.

Lockheed Martin Company 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.