WASHINGTON TRUST Co Increases Stock Position in Lockheed Martin Co. (NYSE:LMT)

WASHINGTON TRUST Co boosted its holdings in Lockheed Martin Co. (NYSE:LMT) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,103 shares of the aerospace company’s stock after purchasing an additional 156 shares during the quarter. WASHINGTON TRUST Co’s holdings in Lockheed Martin were worth $15,114,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Creative Planning increased its position in Lockheed Martin by 3.1% in the 3rd quarter. Creative Planning now owns 106,301 shares of the aerospace company’s stock valued at $62,139,000 after acquiring an additional 3,236 shares during the period. ZWJ Investment Counsel Inc. acquired a new position in shares of Lockheed Martin in the third quarter valued at approximately $216,000. One Wealth Advisors LLC purchased a new stake in shares of Lockheed Martin during the third quarter worth approximately $222,000. Good Life Advisors LLC lifted its holdings in shares of Lockheed Martin by 20.9% during the third quarter. Good Life Advisors LLC now owns 1,883 shares of the aerospace company’s stock worth $1,099,000 after purchasing an additional 326 shares during the period. Finally, Greenup Street Wealth Management LLC grew its position in Lockheed Martin by 102.5% in the 3rd quarter. Greenup Street Wealth Management LLC now owns 4,223 shares of the aerospace company’s stock valued at $2,469,000 after buying an additional 2,138 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on LMT. UBS Group cut their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. StockNews.com cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Susquehanna lowered their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, January 29th. TD Cowen increased their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial began 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $555.60.

Lockheed Martin Stock Performance

Shares of LMT opened at $423.15 on Friday. Lockheed Martin Co. has a 12-month low of $418.58 and a 12-month high of $618.95. The stock has a market cap of $99.60 billion, a P/E ratio of 19.01, a PEG ratio of 2.12 and a beta of 0.48. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The company has a 50-day moving average of $478.88 and a two-hundred day moving average of $533.59.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping 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, research analysts predict that Lockheed Martin Co. will post 27.14 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date 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.