Financial Harvest LLC Takes Position in Lockheed Martin Co. (NYSE:LMT)

Financial Harvest LLC purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,396 shares of the aerospace company’s stock, valued at approximately $1,164,000. Lockheed Martin accounts for approximately 1.0% of Financial Harvest LLC’s investment portfolio, making the stock its 17th biggest position.

Several other hedge funds have also recently modified their holdings of LMT. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin during the third quarter worth $26,000. Heck Capital Advisors LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter worth $35,000. Capital Performance Advisors LLP acquired a new stake in shares of Lockheed Martin during the third quarter worth $40,000. Legacy Investment Solutions LLC acquired a new stake in shares of Lockheed Martin during the third quarter worth $42,000. Finally, Vestor Capital LLC acquired a new stake in shares of Lockheed Martin during the third quarter worth $46,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Trading Up 0.8 %

Lockheed Martin stock opened at $436.47 on Friday. The stock has a market cap of $102.74 billion, a PE ratio of 19.61, a P/E/G ratio of 2.05 and a beta of 0.48. The stock has a 50-day moving average price of $471.01 and a 200 day moving average price of $529.69. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

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

Lockheed Martin Dividend Announcement

The firm also recently declared 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. This represents a $13.20 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Citigroup cut their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and cut their price objective for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. Truist Financial assumed coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. Susquehanna cut their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company cut their price objective on Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating for the company in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $555.60.

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.