Yacktman Asset Management LP Trims Stock Position in Lockheed Martin Co. (NYSE:LMT)

Yacktman Asset Management LP trimmed its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 20.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 261,305 shares of the aerospace company’s stock after selling 69,013 shares during the quarter. Lockheed Martin comprises 1.5% of Yacktman Asset Management LP’s investment portfolio, making the stock its 27th biggest holding. Yacktman Asset Management LP’s holdings in Lockheed Martin were worth $126,979,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Virtue Capital Management LLC increased its stake in Lockheed Martin by 112.8% in the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after buying an additional 1,192 shares during the period. Bank of Montreal Can raised its holdings in Lockheed Martin by 2.1% during the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after purchasing an additional 13,253 shares in the last quarter. Hilltop Holdings Inc. lifted its position in Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after purchasing an additional 5,361 shares during the period. Capital Investment Advisors LLC boosted its holdings in Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after purchasing an additional 2,011 shares in the last quarter. Finally, Old West Investment Management LLC increased its position in Lockheed Martin by 6.6% during the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after purchasing an additional 1,643 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on LMT. UBS Group reduced their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. StockNews.com lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Wells Fargo & Company cut their price target on shares of Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. JPMorgan Chase & Co. decreased their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Finally, Truist Financial initiated coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $555.60.

Lockheed Martin Stock Up 0.8 %

Shares of NYSE LMT opened at $447.91 on Tuesday. The firm has a market cap of $105.43 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 2.12 and a beta of 0.48. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The firm’s 50 day moving average price is $484.84 and its 200 day moving average price is $535.98.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating 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%. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 27.14 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is currently 59.30%.

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.