Forvis Mazars Wealth Advisors LLC Decreases Stake in Lockheed Martin Co. (NYSE:LMT)

Forvis Mazars Wealth Advisors LLC lowered its holdings in Lockheed Martin Co. (NYSE:LMT) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,045 shares of the aerospace company’s stock after selling 25 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Lockheed Martin were worth $508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Virtue Capital Management LLC grew its holdings in shares of Lockheed Martin by 112.8% in the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after acquiring an additional 1,192 shares during the period. Bank of Montreal Can grew its holdings in shares of Lockheed Martin by 2.1% in the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after acquiring an additional 13,253 shares during the period. Hilltop Holdings Inc. grew its holdings in shares of Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after acquiring an additional 5,361 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of Lockheed Martin by 51.7% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock worth $4,630,000 after acquiring an additional 3,247 shares during the period. Finally, Capital Investment Advisors LLC grew its holdings in shares of Lockheed Martin by 2.2% in the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock worth $44,770,000 after acquiring an additional 2,011 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

NYSE LMT opened at $439.62 on Tuesday. The firm has a market cap of $103.48 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth 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 50-day moving average price of $468.90 and a 200-day moving average price of $527.96. Lockheed Martin Co. has a twelve month low of $419.70 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping 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%. As a group, equities research analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.00%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Analysts Set New Price Targets

Several brokerages recently commented on LMT. 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. 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. UBS Group cut their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Truist Financial started coverage on Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $555.60.

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.