Mystic Asset Management Inc. Increases Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Mystic Asset Management Inc. increased its holdings in Lockheed Martin Co. (NYSE:LMT) by 5.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,718 shares of the aerospace company’s stock after acquiring an additional 262 shares during the period. Mystic Asset Management Inc.’s holdings in Lockheed Martin were worth $2,293,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Virtue Capital Management LLC lifted its position in Lockheed Martin by 112.8% during the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after buying an additional 1,192 shares during the period. Bank of Montreal Can lifted its position in Lockheed Martin by 2.1% during the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after buying an additional 13,253 shares during the period. Hilltop Holdings Inc. lifted its position in Lockheed Martin by 79.9% during the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after buying an additional 5,361 shares during the period. Kentucky Retirement Systems Insurance Trust Fund lifted its position in Lockheed Martin by 51.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after buying an additional 3,247 shares during the period. Finally, Capital Investment Advisors LLC lifted its position in Lockheed Martin by 2.2% during the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after buying an additional 2,011 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on LMT. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Truist Financial began coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. Royal Bank of Canada lowered their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Morgan Stanley lowered their price target on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Finally, UBS Group lowered their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $554.20.

Lockheed Martin Price Performance

NYSE LMT opened at $467.32 on Tuesday. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95. The stock has a 50-day moving average of $461.40 and a 200 day moving average of $517.49. The company has a market capitalization of $110.00 billion, a price-to-earnings ratio of 20.99, 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 (NYSE:LMT) last released 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%. On average, sell-side analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be paid a dividend of $3.30 per share. 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 2.82%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Insider Buying and Selling at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction that occurred 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 approximately $1,008,265.58. The trade was a 23.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 trade represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock worth $3,155,916 in the last three months. 0.17% of the stock is currently owned by company insiders.

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.