Sovran Advisors LLC Makes New $296,000 Investment in Lockheed Martin Co. (NYSE:LMT)

Sovran Advisors LLC acquired a new stake in Lockheed Martin Co. (NYSE:LMT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 610 shares of the aerospace company’s stock, valued at approximately $296,000.

A number of other hedge funds also recently made changes to their positions in LMT. Itau Unibanco Holding S.A. acquired a new position in shares of Lockheed Martin during the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new stake in Lockheed Martin in the 3rd quarter valued at $40,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin in the 4th quarter valued at $35,000. Legacy Investment Solutions LLC bought a new stake in Lockheed Martin in the 3rd quarter valued at $42,000. Finally, Vestor Capital LLC bought a new stake in Lockheed Martin in the 3rd quarter valued at $46,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LMT shares. TD Cowen boosted their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Truist Financial started coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price for the company. Royal Bank of Canada cut their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Wells Fargo & Company cut their target price on Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating for the company in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. cut their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. One equities 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and an average price target of $555.60.

Lockheed Martin Price Performance

Shares of LMT opened at $441.67 on Thursday. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The business has a 50-day simple moving average of $482.05 and a two-hundred day simple moving average of $534.93. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The stock has a market cap of $103.96 billion, a PE ratio of 19.84, a PEG ratio of 2.12 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last issued 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%. Analysts anticipate that Lockheed Martin Co. will post 27.14 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. Stockholders of record on Monday, March 3rd will be paid a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.99%. Lockheed Martin’s payout ratio is 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.