Fingerlakes Wealth Management Inc. Sells 94 Shares of Lockheed Martin Co. (NYSE:LMT)

Fingerlakes Wealth Management Inc. lessened its position in Lockheed Martin Co. (NYSE:LMT) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,061 shares of the aerospace company’s stock after selling 94 shares during the quarter. Fingerlakes Wealth Management Inc.’s holdings in Lockheed Martin were worth $515,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. AllGen Financial Advisors Inc. increased its position in shares of Lockheed Martin by 4.0% during the 3rd quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after purchasing an additional 18 shares during the last quarter. Salomon & Ludwin LLC grew its position in Lockheed Martin by 20.5% during the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 18 shares during the last quarter. Sunburst Financial Group LLC raised its stake in shares of Lockheed Martin by 3.3% during the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after acquiring an additional 18 shares in the last quarter. Lmcg Investments LLC lifted its holdings in shares of Lockheed Martin by 3.0% in the 3rd quarter. Lmcg Investments LLC now owns 651 shares of the aerospace company’s stock worth $381,000 after acquiring an additional 19 shares during the last quarter. Finally, Klingman & Associates LLC boosted its stake in shares of Lockheed Martin by 1.1% in the 3rd quarter. Klingman & Associates LLC now owns 1,729 shares of the aerospace company’s stock valued at $1,011,000 after purchasing an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on LMT shares. Citigroup lowered their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. TD Cowen boosted their target price on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Morgan Stanley reduced their price target on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Truist Financial assumed coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. Finally, Royal Bank of Canada cut their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $555.60.

Lockheed Martin Stock Up 1.0 %

Shares of Lockheed Martin stock opened at $432.68 on Thursday. 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 Co. has a 12-month low of $419.70 and a 12-month high of $618.95. The company has a market cap of $101.85 billion, a P/E ratio of 19.44, a PEG ratio of 2.00 and a beta of 0.48. The company’s fifty day simple moving average is $472.21 and its two-hundred day simple moving average is $530.35.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating 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 anticipate that Lockheed Martin Co. will post 27.14 EPS for the current year.

Lockheed Martin Announces Dividend

The company 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 $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio 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.