Summit Wealth Partners LLC Acquires 80 Shares of Lockheed Martin Co. (NYSE:LMT)

Summit Wealth Partners LLC raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 12.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 701 shares of the aerospace company’s stock after acquiring an additional 80 shares during the period. Summit Wealth Partners LLC’s holdings in Lockheed Martin were worth $340,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LMT. Private Management Group Inc. grew its holdings in shares of Lockheed Martin by 14.1% in the 4th quarter. Private Management Group Inc. now owns 461 shares of the aerospace company’s stock valued at $224,000 after buying an additional 57 shares during the period. Meritage Portfolio Management grew its holdings in shares of Lockheed Martin by 5.5% in the 4th quarter. Meritage Portfolio Management now owns 749 shares of the aerospace company’s stock valued at $364,000 after buying an additional 39 shares during the period. Choreo LLC grew its holdings in shares of Lockheed Martin by 6.9% in the 4th quarter. Choreo LLC now owns 15,444 shares of the aerospace company’s stock valued at $7,486,000 after buying an additional 1,003 shares during the period. Nvwm LLC grew its holdings in shares of Lockheed Martin by 2.5% in the 4th quarter. Nvwm LLC now owns 908 shares of the aerospace company’s stock valued at $441,000 after buying an additional 22 shares during the period. Finally, Money Concepts Capital Corp grew its holdings in shares of Lockheed Martin by 1.1% in the 4th quarter. Money Concepts Capital Corp now owns 7,658 shares of the aerospace company’s stock valued at $3,721,000 after buying an additional 85 shares during the period. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. StockNews.com lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Barclays reduced their target price 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. Robert W. Baird upped their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Truist Financial assumed coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. Finally, Morgan Stanley reduced their target price on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. One investment 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 company. According to MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $555.60.

Lockheed Martin Stock Down 0.9 %

Shares of LMT stock opened at $449.44 on Thursday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The firm’s 50-day moving average is $489.62 and its 200-day moving average is $537.03. The stock has a market cap of $105.79 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 2.96 and a beta of 0.48. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Sell-side analysts predict that Lockheed Martin Co. will post 27.29 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.94%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

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.