Baring Financial LLC Purchases New Position in Lockheed Martin Co. (NYSE:LMT)

Baring Financial LLC acquired a new stake in Lockheed Martin Co. (NYSE:LMT) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 2,704 shares of the aerospace company’s stock, valued at approximately $1,314,000.

A number of other hedge funds have also bought and sold shares of LMT. Gries Financial LLC lifted its holdings in shares of Lockheed Martin by 7.2% in the fourth quarter. Gries Financial LLC now owns 743 shares of the aerospace company’s stock worth $361,000 after buying an additional 50 shares in the last quarter. Foster & Motley Inc. lifted its stake in Lockheed Martin by 5.7% in the 4th quarter. Foster & Motley Inc. now owns 11,331 shares of the aerospace company’s stock worth $5,506,000 after purchasing an additional 614 shares in the last quarter. Strategic Blueprint LLC grew its position in shares of Lockheed Martin by 1.6% during the 4th quarter. Strategic Blueprint LLC now owns 2,742 shares of the aerospace company’s stock valued at $1,333,000 after purchasing an additional 44 shares in the last quarter. Masso Torrence Wealth Management Inc. increased its holdings in shares of Lockheed Martin by 4.8% in the fourth quarter. Masso Torrence Wealth Management Inc. now owns 1,231 shares of the aerospace company’s stock worth $598,000 after purchasing an additional 56 shares during the period. Finally, McKinley Carter Wealth Services Inc. boosted its stake in Lockheed Martin by 0.9% during the fourth quarter. McKinley Carter Wealth Services Inc. now owns 6,652 shares of the aerospace company’s stock valued at $3,232,000 after buying an additional 57 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Citigroup lowered their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Barclays decreased their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company lowered their price target on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Truist Financial initiated coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. Finally, Royal Bank of Canada decreased their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $556.13.

Lockheed Martin Stock Down 0.7 %

Shares of NYSE LMT opened at $454.18 on Thursday. The company has a market cap of $107.66 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 4.05 and a beta of 0.48. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm’s fifty day moving average is $497.18 and its 200 day moving average is $537.55. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. On average, equities research analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 2.91%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s payout ratio is 47.79%.

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.