OVERSEA CHINESE BANKING Corp Ltd Invests $377,000 in Lockheed Martin Co. (NYSE:LMT)

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 771 shares of the aerospace company’s stock, valued at approximately $377,000.

A number of other large investors have also modified their holdings of the business. Prospera Private Wealth LLC acquired a new position in Lockheed Martin in the third quarter valued at approximately $99,000. Segall Bryant & Hamill LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter worth approximately $7,039,000. EverSource Wealth Advisors LLC raised its stake in shares of Lockheed Martin by 3.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 3,115 shares of the aerospace company’s stock worth $1,821,000 after buying an additional 95 shares during the period. Citizens Financial Group Inc. RI raised its stake in shares of Lockheed Martin by 8.3% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 23,542 shares of the aerospace company’s stock worth $13,762,000 after buying an additional 1,811 shares during the period. Finally, King Luther Capital Management Corp raised its stake in shares of Lockheed Martin by 1.1% during the 3rd quarter. King Luther Capital Management Corp now owns 7,652 shares of the aerospace company’s stock worth $4,473,000 after buying an additional 85 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

NYSE LMT opened at $466.48 on Friday. The stock has a market cap of $109.80 billion, a PE ratio of 20.96, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a twelve month low of $419.70 and a twelve month high of $618.95. The stock has a fifty day simple moving average of $461.50 and a 200-day simple moving average of $516.12.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping 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%. Equities analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 yield of 2.83%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

Analysts Set New Price Targets

LMT has been the subject of several research analyst reports. Citigroup reduced their target price 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. Susquehanna reduced their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, January 29th. Truist Financial started coverage on Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price for the company. Barclays reduced their price objective 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. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $554.20.

Insider Activity at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction dated 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 $1,008,265.58. This trade represents a 23.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock worth $3,155,916 in the last three months. 0.14% of the stock is owned by company insiders.

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.