Freestone Capital Holdings LLC Purchases 320 Shares of Lockheed Martin Co. (NYSE:LMT)

Freestone Capital Holdings LLC raised its position in Lockheed Martin Co. (NYSE:LMT) by 2.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 12,588 shares of the aerospace company’s stock after acquiring an additional 320 shares during the period. Freestone Capital Holdings LLC’s holdings in Lockheed Martin were worth $6,117,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Lockheed Martin during the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new position in shares of Lockheed Martin during the 3rd quarter worth approximately $40,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin during the 4th quarter worth approximately $35,000. Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter worth approximately $42,000. Finally, Sugar Maple Asset Management LLC bought a new stake in Lockheed Martin in the 4th quarter valued at $47,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 2.6 %

Shares of NYSE:LMT opened at $460.71 on Thursday. The business’s 50 day simple moving average is $463.76 and its two-hundred day simple moving average is $522.84. The firm has a market cap of $108.45 billion, a P/E ratio of 20.70, a PEG ratio of 2.07 and a beta of 0.43. 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 52-week low of $419.70 and a 52-week high of $618.95.

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 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%. As a group, research analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.87%. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Insider Activity

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin 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 completion of the transaction, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the sale, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock worth $3,155,916 over the last 90 days. 0.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Citigroup reduced their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Truist Financial assumed coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. JPMorgan Chase & Co. reduced their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. StockNews.com downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Barclays reduced their price target on 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 given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $553.67.

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.