NewEdge Wealth LLC Buys 3,322 Shares of Lockheed Martin Co. (NYSE:LMT)

NewEdge Wealth LLC grew its stake in Lockheed Martin Co. (NYSE:LMT) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,946 shares of the aerospace company’s stock after purchasing an additional 3,322 shares during the quarter. NewEdge Wealth LLC’s holdings in Lockheed Martin were worth $22,813,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Van ECK Associates Corp boosted its holdings in Lockheed Martin by 1,239.6% during the fourth quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after purchasing an additional 507,312 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Lockheed Martin by 124.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after buying an additional 249,591 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after buying an additional 240,306 shares during the last quarter. FMR LLC grew its holdings in shares of Lockheed Martin by 6.6% in the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after acquiring an additional 209,591 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter valued at approximately $77,376,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $441.56 on Thursday. The firm has a market capitalization of $103.94 billion, a P/E ratio of 19.84, a PEG ratio of 2.07 and a beta of 0.48. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The business has a fifty day moving average price of $467.23 and a 200-day moving average price of $526.63.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS 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%. As a group, equities research analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current 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 issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Wall Street Analysts Forecast Growth

LMT has been the topic of several research analyst reports. Wells Fargo & Company cut their price objective on Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Susquehanna decreased their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. StockNews.com cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Barclays decreased their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $553.67.

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.