BankPlus Trust Department Takes Position in Lockheed Martin Co. (NYSE:LMT)

BankPlus Trust Department acquired a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 5,950 shares of the aerospace company’s stock, valued at approximately $2,891,000. Lockheed Martin accounts for 0.9% of BankPlus Trust Department’s portfolio, making the stock its 20th largest holding.

Several other institutional investors have also recently made changes to their positions in the company. AllGen Financial Advisors Inc. raised its position 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 worth $274,000 after acquiring an additional 18 shares during the period. Salomon & Ludwin LLC boosted its position in Lockheed Martin by 20.5% during the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 18 shares in the last quarter. Sunburst Financial Group LLC increased its position in shares of 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 buying an additional 18 shares in the last quarter. Lmcg Investments LLC raised its stake in shares of Lockheed Martin by 3.0% during the 3rd quarter. Lmcg Investments LLC now owns 651 shares of the aerospace company’s stock worth $381,000 after buying an additional 19 shares during the period. Finally, Klingman & Associates LLC lifted its position in shares of Lockheed Martin by 1.1% during the 3rd quarter. Klingman & Associates LLC now owns 1,729 shares of the aerospace company’s stock valued at $1,011,000 after buying an additional 19 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Up 1.1 %

Shares of NYSE LMT opened at $441.20 on Monday. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95. The business’s 50 day moving average is $469.94 and its two-hundred day moving average is $528.75. The firm has a market cap of $103.85 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 2.07 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 (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping 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%. Research analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.99%. Lockheed Martin’s payout ratio is 59.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Truist Financial assumed coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. Barclays cut their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Susquehanna lowered their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, January 29th. Citigroup reduced their target price on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Finally, Wells Fargo & Company lowered their target price on shares of Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. One investment 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 stock. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average 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.