Loomis Sayles & Co. L P Increases Stake in Lockheed Martin Co. (NYSE:LMT)

Loomis Sayles & Co. L P raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 14.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 18,548 shares of the aerospace company’s stock after purchasing an additional 2,335 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Lockheed Martin were worth $9,014,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Virtue Capital Management LLC raised its holdings in Lockheed Martin by 112.8% in the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after acquiring an additional 1,192 shares during the last quarter. Hilltop Holdings Inc. lifted its position in Lockheed Martin by 79.9% during the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after buying an additional 5,361 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in Lockheed Martin by 51.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock worth $4,630,000 after buying an additional 3,247 shares during the last quarter. Capital Investment Advisors LLC grew its holdings in Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after buying an additional 2,011 shares in the last quarter. Finally, Brady Martz Wealth Solutions LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter worth $1,266,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $441.41 on Friday. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95. The firm has a 50 day moving average of $456.49 and a two-hundred day moving average of $510.30. 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 capitalization of $103.90 billion, a PE ratio of 19.83, a P/E/G ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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%. On average, research analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.99%. The ex-dividend date was Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Insider Buying and Selling at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LMT. Truist Financial assumed coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Royal Bank of Canada lowered Lockheed Martin from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $550.00 to $480.00 in a research report on Thursday. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and reduced their target price for the company from $685.00 to $485.00 in a research report on Monday, March 24th. Finally, Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Lockheed Martin currently has an average rating of “Hold” and a consensus target price of $539.53.

Lockheed Martin Company 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.