Sovran Advisors LLC Takes $296,000 Position in Lockheed Martin Co. (NYSE:LMT)

Sovran Advisors LLC bought a new stake in shares of Lockheed Martin Co. (NYSE:LMT) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 610 shares of the aerospace company’s stock, valued at approximately $296,000.

Several other institutional investors and hedge funds also recently made changes to their positions in LMT. Itau Unibanco Holding S.A. bought a new stake in shares of Lockheed Martin during the 3rd quarter valued at about $26,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin during the 4th quarter valued at about $35,000. Capital Performance Advisors LLP bought a new stake in shares of Lockheed Martin during the 3rd quarter valued at about $40,000. Legacy Investment Solutions LLC bought a new stake in shares of Lockheed Martin during the 3rd quarter valued at about $42,000. Finally, Vestor Capital LLC bought a new stake in shares of Lockheed Martin during the 3rd quarter valued at about $46,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT opened at $441.67 on Thursday. 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 market capitalization of $103.96 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.12 and a beta of 0.48. The stock has a 50 day moving average of $482.05 and a 200 day moving average of $534.93. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS 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%. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 27.14 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Wall Street Analyst Weigh In

LMT has been the topic of several research analyst reports. Susquehanna cut their target price 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. Truist Financial began coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target on the stock. JPMorgan Chase & Co. cut their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Robert W. Baird increased their price target on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and dropped their target price for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $555.60.

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.