Hi Line Capital Management LLC Trims Holdings in Lockheed Martin Co. (NYSE:LMT)

Hi Line Capital Management LLC lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,891 shares of the aerospace company’s stock after selling 78 shares during the period. Lockheed Martin comprises approximately 2.7% of Hi Line Capital Management LLC’s holdings, making the stock its 14th largest holding. Hi Line Capital Management LLC’s holdings in Lockheed Martin were worth $6,264,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in shares of Lockheed Martin by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock worth $2,816,898,000 after acquiring an additional 83,997 shares during the period. FMR LLC grew its holdings in shares of Lockheed Martin by 6.6% during the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after acquiring an additional 209,591 shares during the period. Wellington Management Group LLP grew its holdings in shares of Lockheed Martin by 8.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after acquiring an additional 240,306 shares during the period. Bank of Montreal Can grew its holdings in shares of Lockheed Martin by 2.1% during the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after acquiring an additional 13,253 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of Lockheed Martin by 1,239.6% during the 4th quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after acquiring an additional 507,312 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

NYSE LMT opened at $441.20 on Monday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a market capitalization of $103.86 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 2.07 and a beta of 0.48. Lockheed Martin Co. has a 1-year low of $419.70 and a 1-year high of $618.95. The business’s fifty day moving average price is $469.94 and its 200-day moving average price is $528.75.

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 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, equities analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

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. 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 2.99%. Lockheed Martin’s payout ratio is presently 59.30%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LMT shares. Truist Financial started coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target on the stock. Morgan Stanley cut their price target on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Citigroup cut their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. UBS Group cut their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada cut their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. 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 issued a strong buy rating to the stock. According to MarketBeat, Lockheed Martin currently has an average 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.