Gallagher Capital Advisors LLC Invests $872,000 in Lockheed Martin Co. (NYSE:LMT)

Gallagher Capital Advisors LLC acquired a new stake in shares of Lockheed Martin Co. (NYSE:LMT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,795 shares of the aerospace company’s stock, valued at approximately $872,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Proficio Capital Partners LLC grew its holdings in shares of Lockheed Martin by 53,784.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock valued at $600,412,000 after buying an additional 1,233,275 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Lockheed Martin by 17.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after acquiring an additional 1,132,461 shares during the period. Van ECK Associates Corp grew its stake in 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 valued at $266,410,000 after purchasing an additional 507,312 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Lockheed Martin by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock valued at $263,561,000 after purchasing an additional 249,591 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the transaction, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock worth $3,155,916 in the last 90 days. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LMT shares. Truist Financial assumed coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. Citigroup dropped their price objective 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. JPMorgan Chase & Co. reduced their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Morgan Stanley lowered their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Finally, Wells Fargo & Company increased their price target on Lockheed Martin from $468.00 to $476.00 and gave the stock an “equal weight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, six have assigned 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 an average price target of $554.20.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $474.31 on Monday. The company has a market capitalization of $111.65 billion, a P/E ratio of 21.31, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 12-month low of $419.70 and a 12-month high of $618.95. The business’s 50 day moving average is $462.89 and its two-hundred day moving average is $521.36. 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 announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating 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%. Analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.78%. Lockheed Martin’s dividend payout ratio is currently 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.