Independent Advisor Alliance Boosts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Independent Advisor Alliance raised its position in shares of Lockheed Martin Co. (NYSE:LMT) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,036 shares of the aerospace company’s stock after purchasing an additional 879 shares during the quarter. Independent Advisor Alliance’s holdings in Lockheed Martin were worth $10,708,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in LMT. Proficio Capital Partners LLC grew its stake in Lockheed Martin by 53,784.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock valued at $600,412,000 after purchasing an additional 1,233,275 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Lockheed Martin by 17.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after purchasing an additional 1,132,461 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Lockheed Martin by 1,239.6% in the fourth quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after buying an additional 507,312 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Lockheed Martin by 8.5% in the third 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. Finally, FMR LLC boosted its stake 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 worth $1,981,088,000 after buying an additional 209,591 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on LMT. Truist Financial began coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and lowered their target price for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. Barclays lowered their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada lowered their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lowered their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $554.20.

Insider Buying and Selling

In other news, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,133 shares of company stock worth $3,155,916. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $478.42 on Tuesday. The business has a 50 day simple moving average of $462.79 and a two-hundred day simple moving average of $520.80. Lockheed Martin Co. has a 12 month low of $419.70 and a 12 month high of $618.95. The stock has a market capitalization of $112.61 billion, a P/E ratio of 21.49, a PEG ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly 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%. As a group, analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal 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 given a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.76%. Lockheed Martin’s payout ratio is 59.30%.

Lockheed Martin 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.