Private Management Group Inc. Buys 57 Shares of Lockheed Martin Co. (NYSE:LMT)

Private Management Group Inc. increased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 14.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 461 shares of the aerospace company’s stock after acquiring an additional 57 shares during the quarter. Private Management Group Inc.’s holdings in Lockheed Martin were worth $224,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of LMT. Algert Global LLC bought a new stake in Lockheed Martin during the second quarter worth $277,000. Marcum Wealth LLC boosted its position in Lockheed Martin by 2.3% in the third quarter. Marcum Wealth LLC now owns 1,848 shares of the aerospace company’s stock worth $1,080,000 after purchasing an additional 41 shares during the last quarter. Wedmont Private Capital boosted its position in Lockheed Martin by 10.5% in the third quarter. Wedmont Private Capital now owns 2,893 shares of the aerospace company’s stock worth $1,752,000 after purchasing an additional 274 shares during the last quarter. Patten Group Inc. boosted its position in Lockheed Martin by 5.1% in the third quarter. Patten Group Inc. now owns 2,593 shares of the aerospace company’s stock worth $1,516,000 after purchasing an additional 126 shares during the last quarter. Finally, High Note Wealth LLC boosted its position in Lockheed Martin by 2.5% in the third quarter. High Note Wealth LLC now owns 4,760 shares of the aerospace company’s stock worth $2,783,000 after purchasing an additional 117 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LMT shares. Susquehanna cut their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley cut their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Barclays cut their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada cut their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Finally, Truist Financial assumed coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $555.60.

Lockheed Martin Stock Performance

Shares of LMT opened at $448.29 on Friday. The stock’s 50-day simple moving average is $488.10 and its 200 day simple moving average is $536.42. The stock has a market capitalization of $105.52 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 2.96 and a beta of 0.48. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95.

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 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%. Research analysts forecast that Lockheed Martin Co. will post 27.29 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 dividend on an annualized basis and a yield of 2.94%. Lockheed Martin’s dividend 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.