Oak Harvest Investment Services Sells 45 Shares of Lockheed Martin Co. (NYSE:LMT)

Oak Harvest Investment Services decreased its position in Lockheed Martin Co. (NYSE:LMT) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,297 shares of the aerospace company’s stock after selling 45 shares during the period. Lockheed Martin accounts for 1.1% of Oak Harvest Investment Services’ portfolio, making the stock its 28th largest position. Oak Harvest Investment Services’ holdings in Lockheed Martin were worth $7,920,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Virtue Capital Management LLC lifted its holdings in Lockheed Martin by 112.8% in the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after buying an additional 1,192 shares during the period. 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. boosted its position 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 worth $7,054,000 after purchasing an additional 5,361 shares during the last quarter. Capital Investment Advisors LLC boosted its position 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 worth $44,770,000 after purchasing an additional 2,011 shares during the last quarter. Finally, Old West Investment Management LLC grew its stake in shares of Lockheed Martin by 6.6% during the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after purchasing an additional 1,643 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LMT. UBS Group reduced their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday. Wells Fargo & Company reduced 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. Robert W. Baird upped their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Truist Financial initiated coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. Finally, Citigroup lowered their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $555.60.

Lockheed Martin Stock Performance

Shares of LMT opened at $459.12 on Friday. The stock has a market capitalization of $108.07 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 3.78 and a beta of 0.48. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The firm has a fifty day simple moving average of $495.56 and a 200 day simple moving average of $536.97. The company has a current ratio of 1.13, a quick ratio of 1.12 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating 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%. Research analysts forecast that Lockheed Martin Co. will post 27.09 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.88%. Lockheed Martin’s dividend payout ratio is presently 59.30%.

About Lockheed Martin

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.