Lockheed Martin Co. (NYSE:LMT) Stake Reduced by Elwood & Goetz Wealth Advisory Group LLC

Elwood & Goetz Wealth Advisory Group LLC reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 2.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,696 shares of the aerospace company’s stock after selling 42 shares during the period. Elwood & Goetz Wealth Advisory Group LLC’s holdings in Lockheed Martin were worth $824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the business. Howard Capital Management Inc. grew its stake in shares of Lockheed Martin by 20.0% in the fourth quarter. Howard Capital Management Inc. now owns 3,492 shares of the aerospace company’s stock worth $1,697,000 after purchasing an additional 581 shares in the last quarter. Marshall Investment Management LLC bought a new position in shares of Lockheed Martin in the fourth quarter worth $551,000. First Horizon Advisors Inc. grew its stake in shares of Lockheed Martin by 3.2% in the fourth quarter. First Horizon Advisors Inc. now owns 69,333 shares of the aerospace company’s stock worth $33,692,000 after purchasing an additional 2,151 shares in the last quarter. Capital City Trust Co. FL grew its stake in shares of Lockheed Martin by 9.5% in the fourth quarter. Capital City Trust Co. FL now owns 5,233 shares of the aerospace company’s stock worth $2,543,000 after purchasing an additional 452 shares in the last quarter. Finally, Sigma Planning Corp grew its stake in shares of Lockheed Martin by 0.3% in the fourth quarter. Sigma Planning Corp now owns 10,049 shares of the aerospace company’s stock worth $4,883,000 after purchasing an additional 35 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Truist Financial began coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. JPMorgan Chase & Co. cut their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Susquehanna cut their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. Morgan Stanley cut their price objective 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, Barclays cut their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $555.60.

Lockheed Martin Trading Up 1.1 %

Shares of NYSE LMT opened at $441.20 on Friday. 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 $103.86 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 2.07 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 business has a fifty day simple moving average of $469.94 and a 200-day simple moving average of $528.89.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating 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%. Sell-side analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.99%. The ex-dividend date is Monday, March 3rd. 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.