State of Alaska Department of Revenue Grows Stake in Lockheed Martin Co. (NYSE:LMT)

State of Alaska Department of Revenue increased its position in Lockheed Martin Co. (NYSE:LMT) by 13.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 31,219 shares of the aerospace company’s stock after acquiring an additional 3,710 shares during the quarter. State of Alaska Department of Revenue’s holdings in Lockheed Martin were worth $15,170,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of LMT. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin during the 3rd quarter worth about $26,000. Burkett Financial Services LLC purchased a new stake in Lockheed Martin in the 3rd quarter worth approximately $32,000. Capital Performance Advisors LLP bought a new position in Lockheed Martin in the 3rd quarter valued at $40,000. Heck Capital Advisors LLC bought a new position in shares of Lockheed Martin in the fourth quarter worth $35,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Lockheed Martin in the third quarter worth $42,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.9 %

Shares of LMT stock opened at $449.44 on Thursday. The business has a 50-day moving average of $489.62 and a 200 day moving average of $537.03. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The stock has a market capitalization of $105.79 billion, a PE ratio of 20.19, a P/E/G ratio of 2.96 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping 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, sell-side analysts anticipate that Lockheed Martin Co. will post 27.29 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

Analysts Set New Price Targets

Several research firms recently commented on LMT. TD Cowen boosted their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird boosted their price objective on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. cut their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Finally, Truist Financial began coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus target price of $555.60.

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.