Lockheed Martin Co. (NYSE:LMT) Shares Sold by Rheos Capital Works Inc.

Rheos Capital Works Inc. trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 50.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,200 shares of the aerospace company’s stock after selling 24,900 shares during the quarter. Rheos Capital Works Inc.’s holdings in Lockheed Martin were worth $11,760,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Holistic Planning LLC boosted its holdings in shares of Lockheed Martin by 10.5% in the 4th quarter. Holistic Planning LLC now owns 539 shares of the aerospace company’s stock valued at $262,000 after buying an additional 51 shares in the last quarter. Boston Trust Walden Corp lifted its position in Lockheed Martin by 13.2% in the fourth quarter. Boston Trust Walden Corp now owns 27,548 shares of the aerospace company’s stock valued at $13,387,000 after acquiring an additional 3,215 shares during the last quarter. Leisure Capital Management boosted its stake in Lockheed Martin by 0.8% in the fourth quarter. Leisure Capital Management now owns 2,970 shares of the aerospace company’s stock valued at $1,443,000 after acquiring an additional 23 shares in the last quarter. Prudent Investors Network Inc. purchased a new position in shares of Lockheed Martin during the fourth quarter worth about $899,000. Finally, Panoramic Investment Advisors LLC grew its holdings in shares of Lockheed Martin by 17.7% during the fourth quarter. Panoramic Investment Advisors LLC now owns 691 shares of the aerospace company’s stock worth $336,000 after purchasing an additional 104 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LMT. Truist Financial assumed coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. UBS Group decreased their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. 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. StockNews.com cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday. Finally, TD Cowen lifted their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $555.60.

Lockheed Martin Stock Up 0.6 %

Lockheed Martin stock opened at $462.53 on Monday. The firm has a market capitalization of $108.88 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 2.96 and a beta of 0.48. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The stock’s fifty day moving average is $492.29 and its two-hundred day moving average is $537.32.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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%. Analysts predict that Lockheed Martin Co. will post 27.29 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s 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.