Choate Investment Advisors Acquires 129 Shares of Lockheed Martin Co. (NYSE:LMT)

Choate Investment Advisors boosted its stake in Lockheed Martin Co. (NYSE:LMT) by 11.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,268 shares of the aerospace company’s stock after purchasing an additional 129 shares during the period. Choate Investment Advisors’ holdings in Lockheed Martin were worth $616,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Clearstead Trust LLC raised its position in Lockheed Martin by 2,423.3% during the 4th quarter. Clearstead Trust LLC now owns 757 shares of the aerospace company’s stock valued at $368,000 after purchasing an additional 727 shares during the last quarter. Greykasell Wealth Strategies Inc. purchased a new position in Lockheed Martin during the 4th quarter valued at about $294,000. HMV Wealth Advisors LLC purchased a new position in shares of Lockheed Martin during the fourth quarter valued at approximately $527,000. Midwest Professional Planners LTD. raised its stake in Lockheed Martin by 3.0% during the fourth quarter. Midwest Professional Planners LTD. now owns 9,115 shares of the aerospace company’s stock valued at $4,430,000 after buying an additional 267 shares during the last quarter. Finally, Intact Investment Management Inc. boosted its stake in Lockheed Martin by 6,900.0% in the 4th quarter. Intact Investment Management Inc. now owns 8,400 shares of the aerospace company’s stock worth $4,082,000 after purchasing an additional 8,280 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $467.07 on Monday. The company’s 50-day moving average price is $461.39 and its 200-day moving average price is $518.19. 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 market cap of $109.94 billion, a PE ratio of 20.98, 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.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping the consensus estimate 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, equities research analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company 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 annualized dividend and a dividend yield of 2.83%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Wall Street Analysts Forecast Growth

LMT has been the topic of several analyst reports. Barclays lowered their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. UBS Group reduced 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. Morgan Stanley decreased their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Royal Bank of Canada decreased 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, Truist Financial initiated coverage on Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $554.20.

Insiders Place Their Bets

In related news, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly 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 valued at $3,155,916 over the last 90 days. Insiders own 0.17% of the company’s stock.

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.