Alberta Investment Management Corp Buys New Position in Lockheed Martin Co. (NYSE:LMT)

Alberta Investment Management Corp bought a new stake in shares of Lockheed Martin Co. (NYSE:LMT) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 15,338 shares of the aerospace company’s stock, valued at approximately $7,453,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Itau Unibanco Holding S.A. bought a new position in Lockheed Martin in the third quarter worth $26,000. Capital Performance Advisors LLP bought a new position in Lockheed Martin in the third quarter worth $40,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin in the fourth quarter worth $35,000. Legacy Investment Solutions LLC bought a new position in Lockheed Martin in the third quarter worth $42,000. Finally, Vestor Capital LLC bought a new position in Lockheed Martin in the third quarter worth $46,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Citigroup decreased their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Susquehanna cut their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. TD Cowen increased their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial initiated coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. One 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $555.60.

Lockheed Martin Trading Up 1.0 %

Lockheed Martin stock opened at $432.68 on Thursday. The stock has a market capitalization of $101.85 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 2.00 and a beta of 0.48. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The business’s fifty day moving average is $472.21 and its 200 day moving average is $530.35. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last announced 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 return on equity of 101.47% and a net margin of 7.51%. On average, sell-side analysts predict that Lockheed Martin Co. will post 27.14 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 yield of 3.05%. Lockheed Martin’s payout ratio is 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.