Ledyard National Bank Acquires 462 Shares of Lockheed Martin Co. (NYSE:LMT)

Ledyard National Bank boosted its holdings in Lockheed Martin Co. (NYSE:LMT) by 8.8% in the fourth quarter, HoldingsChannel reports. The firm owned 5,736 shares of the aerospace company’s stock after purchasing an additional 462 shares during the period. Ledyard National Bank’s holdings in Lockheed Martin were worth $2,787,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new stake in shares of Lockheed Martin in the 3rd quarter valued at $26,000. Capital Performance Advisors LLP acquired a new stake in Lockheed Martin in the third quarter worth $40,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin in the fourth quarter valued at $35,000. Legacy Investment Solutions LLC bought a new stake in Lockheed Martin in the third quarter valued at $42,000. Finally, Vestor Capital LLC acquired a new position in shares of Lockheed Martin during the third quarter valued at about $46,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Susquehanna reduced their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, January 29th. Citigroup decreased their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Barclays cut their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Truist Financial assumed coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target for the company. Finally, UBS Group dropped their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $555.60.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $448.29 on Friday. The stock has a market cap of $105.52 billion, a P/E ratio of 20.14, a P/E/G ratio of 2.96 and a beta of 0.48. 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 company’s 50 day moving average price is $488.10 and its two-hundred day moving average price is $536.42. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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 27.29 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.94%. Lockheed Martin’s 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.