E Fund Management Co. Ltd. Makes New Investment in Lockheed Martin Co. (NYSE:LMT)

E Fund Management Co. Ltd. acquired a new stake in shares of Lockheed Martin Co. (NYSE:LMT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 522 shares of the aerospace company’s stock, valued at approximately $254,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LMT. Kornitzer Capital Management Inc. KS increased its position in shares of Lockheed Martin by 2.2% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 4,491 shares of the aerospace company’s stock valued at $2,625,000 after acquiring an additional 97 shares during the period. Portside Wealth Group LLC grew its stake in Lockheed Martin by 7.4% during the 3rd quarter. Portside Wealth Group LLC now owns 1,515 shares of the aerospace company’s stock valued at $886,000 after purchasing an additional 105 shares during the last quarter. TFB Advisors LLC acquired a new position in shares of Lockheed Martin in the third quarter valued at about $226,000. Capital Performance Advisors LLP purchased a new position in shares of Lockheed Martin in the third quarter worth about $40,000. Finally, CWA Asset Management Group LLC acquired a new stake in shares of Lockheed Martin during the third quarter worth about $19,030,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $474.31 on Friday. 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 12-month low of $419.70 and a 12-month high of $618.95. The business’s 50 day moving average is $462.89 and its two-hundred day moving average is $521.59. The company has a market capitalization of $111.65 billion, a P/E ratio of 21.31, a P/E/G ratio of 2.07 and a beta of 0.43.

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, 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%. Analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given 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 2.78%. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

Analysts Set New Price Targets

LMT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Truist Financial started coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective on the stock. Wells Fargo & Company boosted their target price on shares of Lockheed Martin from $468.00 to $476.00 and gave the company an “equal weight” rating in a research report on Friday. UBS Group cut their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Finally, Susquehanna decreased their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $554.20.

Insider Transactions at Lockheed Martin

In other news, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The transaction 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 Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock valued at $3,155,916 over the last 90 days. Corporate insiders own 0.17% of the company’s stock.

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.