WASHINGTON TRUST Co Grows Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

WASHINGTON TRUST Co grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 0.5% during the fourth quarter, HoldingsChannel reports. The firm 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.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC lifted its position in Lockheed Martin by 1.8% during the third quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock worth $2,816,898,000 after buying an additional 83,997 shares during the period. FMR LLC increased its stake in shares of Lockheed Martin by 6.6% during the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after acquiring an additional 209,591 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Lockheed Martin by 8.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after acquiring an additional 240,306 shares during the period. International Assets Investment Management LLC boosted its position in shares of Lockheed Martin by 60,592.0% in the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after acquiring an additional 1,556,609 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in Lockheed Martin by 2.1% in the third 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. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price target for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. UBS Group lowered their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Truist Financial started coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective on the stock. TD Cowen increased their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Citigroup reduced their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $555.60.

Lockheed Martin Stock Performance

NYSE:LMT opened at $423.15 on Friday. Lockheed Martin Co. has a 1-year low of $418.58 and a 1-year 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 debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The firm 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 for the quarter, beating 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%. On average, research analysts expect that Lockheed Martin Co. will post 27.14 earnings per share 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. Shareholders of record on Monday, March 3rd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 3.12%. Lockheed Martin’s dividend payout ratio (DPR) is 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.