Coordinated Financial Services Inc. Invests $297,000 in Lockheed Martin Co. (NYSE:LMT)

Coordinated Financial Services Inc. acquired a new stake in Lockheed Martin Co. (NYSE:LMT) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 611 shares of the aerospace company’s stock, valued at approximately $297,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LMT. Charles Schwab Investment Management Inc. boosted its position in Lockheed Martin by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after purchasing an additional 1,132,461 shares during the last quarter. Geode Capital Management LLC raised its stake in Lockheed Martin by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock worth $2,816,898,000 after purchasing an additional 83,997 shares in the last quarter. FMR LLC raised its stake in Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after buying an additional 240,306 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Lockheed Martin by 0.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company’s stock valued at $847,361,000 after buying an additional 15,085 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin 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 completion of the sale, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LMT. UBS Group decreased their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report 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 on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Morgan Stanley lowered their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Finally, 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 target price for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $554.20.

Lockheed Martin Trading Up 2.8 %

LMT stock opened at $474.31 on Friday. Lockheed Martin Co. has a 1-year low of $419.70 and a 1-year high of $618.95. 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 company has a market capitalization of $111.65 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 2.07 and a beta of 0.43. The business has a 50 day simple moving average of $462.89 and a two-hundred day simple moving average of $521.59.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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%. Research analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is currently 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.