Fox Hill Wealth Management Boosts Stake in Lockheed Martin Co. (NYSE:LMT)

Fox Hill Wealth Management lifted its stake in Lockheed Martin Co. (NYSE:LMT) by 0.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,196 shares of the aerospace company’s stock after purchasing an additional 32 shares during the period. Lockheed Martin accounts for approximately 1.2% of Fox Hill Wealth Management’s holdings, making the stock its 27th largest position. Fox Hill Wealth Management’s holdings in Lockheed Martin were worth $2,039,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LMT. New England Asset Management Inc. increased its stake in shares of Lockheed Martin by 1.0% in the 3rd quarter. New England Asset Management Inc. now owns 18,060 shares of the aerospace company’s stock worth $10,557,000 after purchasing an additional 175 shares in the last quarter. Aviance Capital Partners LLC increased its stake in shares of Lockheed Martin by 0.3% in the 3rd quarter. Aviance Capital Partners LLC now owns 15,718 shares of the aerospace company’s stock worth $9,188,000 after purchasing an additional 53 shares in the last quarter. Lindenwold Advisors INC boosted its holdings in Lockheed Martin by 0.9% in the 3rd quarter. Lindenwold Advisors INC now owns 3,338 shares of the aerospace company’s stock worth $1,951,000 after buying an additional 31 shares during the period. Caprock Group LLC boosted its holdings in Lockheed Martin by 6.5% in the 3rd quarter. Caprock Group LLC now owns 7,249 shares of the aerospace company’s stock worth $4,238,000 after buying an additional 440 shares during the period. Finally, OneAscent Financial Services LLC bought a new position in Lockheed Martin in the 3rd quarter worth $354,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the sale, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock valued at $3,155,916 over the last ninety days. 0.14% of the stock is currently owned by insiders.

Lockheed Martin Price Performance

Shares of LMT opened at $469.33 on Wednesday. The company has a market cap of $110.47 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a twelve month low of $419.70 and a twelve month high of $618.95. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The company has a 50 day moving average of $461.50 and a two-hundred day moving average of $516.79.

Lockheed Martin (NYSE:LMT) last announced 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%. As a group, analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LMT. UBS Group dropped their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Truist Financial initiated coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. Wells Fargo & Company reissued an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. Royal Bank of Canada reduced their price objective on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their target price for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $554.20.

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.