Sierra Ocean LLC Purchases New Shares in Lockheed Martin Co. (NYSE:LMT)

Sierra Ocean LLC purchased a new stake in Lockheed Martin Co. (NYSE:LMT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 129 shares of the aerospace company’s stock, valued at approximately $63,000.

Other institutional investors have also added to or reduced their stakes in the company. Virtue Capital Management LLC boosted its stake in Lockheed Martin by 112.8% in the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after purchasing an additional 1,192 shares during the period. Bank of Montreal Can boosted its stake in Lockheed Martin by 2.1% in the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after purchasing an additional 13,253 shares during the period. Hilltop Holdings Inc. raised its holdings in Lockheed Martin by 79.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after acquiring an additional 5,361 shares in the last quarter. Capital Investment Advisors LLC raised its holdings in Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after acquiring an additional 2,011 shares in the last quarter. Finally, Old West Investment Management LLC raised its holdings in Lockheed Martin by 6.6% in the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after acquiring an additional 1,643 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Down 2.7 %

Shares of NYSE:LMT opened at $423.15 on Tuesday. Lockheed Martin Co. has a 1 year low of $418.58 and a 1 year high of $618.95. The company has a market cap of $99.60 billion, a PE ratio of 19.01, a P/E/G ratio of 2.12 and a beta of 0.48. 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 stock’s 50-day moving average is $477.08 and its 200 day moving average is $532.77.

Lockheed Martin (NYSE:LMT) last announced its quarterly 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 return on equity of 101.47% and a net margin of 7.51%. Sell-side analysts anticipate that Lockheed Martin Co. will post 27.14 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. Shareholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.12%. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wells Fargo & Company dropped their price objective on Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. Royal Bank of Canada lowered their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Susquehanna reduced their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. Truist Financial started coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. Finally, Citigroup dropped their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $555.60.

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.