Kornitzer Capital Management Inc. KS Sells 77 Shares of Lockheed Martin Co. (NYSE:LMT)

Kornitzer Capital Management Inc. KS decreased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,414 shares of the aerospace company’s stock after selling 77 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Lockheed Martin were worth $2,145,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. D.A. Davidson & CO. grew its holdings in shares of Lockheed Martin by 0.4% during the fourth quarter. D.A. Davidson & CO. now owns 37,992 shares of the aerospace company’s stock valued at $18,462,000 after buying an additional 142 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Lockheed Martin by 0.8% during the fourth quarter. Truist Financial Corp now owns 271,868 shares of the aerospace company’s stock valued at $132,111,000 after buying an additional 2,051 shares during the last quarter. Wealth Quarterback LLC grew its holdings in shares of Lockheed Martin by 1.9% during the fourth quarter. Wealth Quarterback LLC now owns 2,518 shares of the aerospace company’s stock valued at $1,223,000 after buying an additional 46 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Lockheed Martin by 0.4% during the fourth quarter. CIBC Asset Management Inc now owns 46,691 shares of the aerospace company’s stock valued at $22,689,000 after buying an additional 194 shares during the last quarter. Finally, Pittenger & Anderson Inc. grew its holdings in shares of Lockheed Martin by 37.3% during the fourth quarter. Pittenger & Anderson Inc. now owns 221 shares of the aerospace company’s stock valued at $107,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 1.0 %

Shares of LMT stock opened at $432.68 on Thursday. The company has a market capitalization of $101.85 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 2.00 and a beta of 0.48. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95. The company’s fifty day moving average price is $472.21 and its 200-day moving average price is $530.35. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Sell-side analysts expect that Lockheed Martin Co. will post 27.14 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a $3.30 dividend. 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 3.05%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Royal Bank of Canada dropped their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Barclays dropped their target price 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. Citigroup dropped their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Finally, Truist Financial initiated coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.