Prudent Investors Network Inc. Acquires Shares of 1,849 Lockheed Martin Co. (NYSE:LMT)

Prudent Investors Network Inc. purchased a new position in Lockheed Martin Co. (NYSE:LMT) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,849 shares of the aerospace company’s stock, valued at approximately $899,000. Lockheed Martin makes up approximately 0.3% of Prudent Investors Network Inc.’s investment portfolio, making the stock its 22nd largest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of LMT. Algert Global LLC purchased a new stake in shares of Lockheed Martin in the second quarter worth about $277,000. Czech National Bank increased its position in shares of Lockheed Martin by 6.2% in the third quarter. Czech National Bank now owns 43,214 shares of the aerospace company’s stock worth $25,261,000 after purchasing an additional 2,520 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Lockheed Martin by 26.1% in the third quarter. GAMMA Investing LLC now owns 4,504 shares of the aerospace company’s stock worth $2,633,000 after purchasing an additional 932 shares during the last quarter. WealthBridge Capital Management LLC bought a new position in shares of Lockheed Martin in the third quarter worth approximately $258,000. Finally, IAM Advisory LLC increased its position in shares of Lockheed Martin by 1.3% in the third quarter. IAM Advisory LLC now owns 4,081 shares of the aerospace company’s stock worth $2,386,000 after purchasing an additional 54 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LMT shares. Susquehanna decreased 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. Royal Bank of Canada reduced their price target on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Robert W. Baird increased their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Truist Financial started coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. Finally, Barclays cut 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus price target of $555.60.

Lockheed Martin Stock Performance

NYSE:LMT opened at $462.53 on Monday. The stock has a market cap of $108.88 billion, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 2.96 and a beta of 0.48. The firm’s fifty day simple moving average is $492.29 and its 200 day simple moving average is $537.32. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The company has a quick ratio of 0.95, a current ratio of 1.13 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 EPS for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, research analysts predict that Lockheed Martin Co. will post 27.29 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

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.