Lockheed Martin Co. (NYSE:LMT) Stake Raised by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in Lockheed Martin Co. (NYSE:LMT) by 51.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,528 shares of the aerospace company’s stock after acquiring an additional 3,247 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Lockheed Martin were worth $4,630,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. AllGen Financial Advisors Inc. raised its stake in shares of Lockheed Martin by 4.0% in the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after purchasing an additional 18 shares in the last quarter. Salomon & Ludwin LLC boosted its position in shares of Lockheed Martin by 20.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 18 shares in the last quarter. Sunburst Financial Group LLC increased its stake in Lockheed Martin by 3.3% in the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after acquiring an additional 18 shares during the period. Lmcg Investments LLC lifted its stake in Lockheed Martin by 3.0% during the third quarter. Lmcg Investments LLC now owns 651 shares of the aerospace company’s stock worth $381,000 after purchasing an additional 19 shares during the period. Finally, Assetmark Inc. boosted its holdings in Lockheed Martin by 1.3% during the third quarter. Assetmark Inc. now owns 1,470 shares of the aerospace company’s stock valued at $859,000 after purchasing an additional 19 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley decreased their price target 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. Susquehanna dropped their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research report on Wednesday, January 29th. Truist Financial initiated coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective on the stock. Robert W. Baird lifted their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price target 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 issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $555.60.

Lockheed Martin Stock Down 2.7 %

NYSE:LMT opened at $423.15 on Tuesday. The stock’s fifty day simple moving average is $477.08 and its 200-day simple moving average is $532.77. The firm has a market capitalization of $99.60 billion, a P/E ratio of 19.01, a P/E/G ratio of 2.12 and a beta of 0.48. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 12-month low of $418.58 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 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%. Equities research analysts expect that Lockheed Martin Co. will post 27.14 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 yield of 3.12%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s payout ratio is presently 59.30%.

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.