Lockheed Martin Co. (NYSE:LMT) Shares Purchased by Amalgamated Bank

Amalgamated Bank grew its stake in Lockheed Martin Co. (NYSE:LMT) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,860 shares of the aerospace company’s stock after purchasing an additional 1,565 shares during the period. Amalgamated Bank’s holdings in Lockheed Martin were worth $21,799,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LMT. Van ECK Associates Corp increased its position in Lockheed Martin by 1,239.6% during the 4th quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after purchasing an additional 507,312 shares during the period. Los Angeles Capital Management LLC boosted its position in shares of Lockheed Martin by 124.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after purchasing an additional 249,591 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after purchasing an additional 240,306 shares during the period. FMR LLC grew its position in Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after buying an additional 209,591 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter valued at approximately $77,376,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wells Fargo & Company decreased their target price on Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and cut their price objective for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. UBS Group reduced their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley dropped their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Finally, Truist Financial started coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus price target of $555.60.

Lockheed Martin Stock Performance

Shares of NYSE LMT opened at $439.62 on Tuesday. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95. The business’s 50-day moving average price is $468.90 and its two-hundred day moving average price is $527.96. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The company has a market capitalization of $103.48 billion, a P/E ratio of 19.75, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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%. Analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business 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 $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 3.00%. 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.