Fortress Financial Group LLC Purchases Shares of 421 Lockheed Martin Co. (NYSE:LMT)

Fortress Financial Group LLC purchased a new stake in Lockheed Martin Co. (NYSE:LMT) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 421 shares of the aerospace company’s stock, valued at approximately $205,000.

Several other hedge funds have also modified their holdings of the stock. abrdn plc boosted its stake in shares of Lockheed Martin by 14.8% during the 3rd quarter. abrdn plc now owns 21,036 shares of the aerospace company’s stock valued at $12,240,000 after buying an additional 2,707 shares during the last quarter. Financial Advocates Investment Management increased its stake in shares of Lockheed Martin by 6.7% during the third quarter. Financial Advocates Investment Management now owns 2,943 shares of the aerospace company’s stock valued at $1,720,000 after acquiring an additional 186 shares during the period. Goldstone Financial Group LLC bought a new stake in shares of Lockheed Martin in the 3rd quarter worth $1,017,000. Catalyst Financial Partners LLC lifted its holdings in Lockheed Martin by 9.8% in the 3rd quarter. Catalyst Financial Partners LLC now owns 917 shares of the aerospace company’s stock valued at $536,000 after acquiring an additional 82 shares during the last quarter. Finally, United Asset Strategies Inc. grew its position in Lockheed Martin by 1.2% during the 3rd quarter. United Asset Strategies Inc. now owns 30,833 shares of the aerospace company’s stock worth $18,023,000 after purchasing an additional 379 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LMT has been the topic of a number of research analyst reports. UBS Group lowered their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. StockNews.com downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Susquehanna lowered their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley reduced their price target on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price objective for the stock 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $553.67.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $446.38 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The business has a 50 day moving average price of $466.57 and a 200 day moving average price of $526.08. The company has a market cap of $105.07 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 2.07 and a beta of 0.48. Lockheed Martin Co. has a twelve month low of $419.70 and a twelve month high of $618.95.

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

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s payout ratio is presently 59.30%.

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.