Proficio Capital Partners LLC Boosts Stake in Lockheed Martin Co. (NYSE:LMT)

Proficio Capital Partners LLC lifted its holdings in Lockheed Martin Co. (NYSE:LMT) by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,543 shares of the aerospace company’s stock after purchasing an additional 250 shares during the quarter. Proficio Capital Partners LLC’s holdings in Lockheed Martin were worth $1,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Prospera Private Wealth LLC purchased a new stake in Lockheed Martin during the third quarter valued at $99,000. Segall Bryant & Hamill LLC purchased a new stake in Lockheed Martin during the third quarter valued at $7,039,000. EverSource Wealth Advisors LLC increased its position in Lockheed Martin by 3.1% during the third quarter. EverSource Wealth Advisors LLC now owns 3,115 shares of the aerospace company’s stock valued at $1,821,000 after acquiring an additional 95 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in Lockheed Martin by 8.3% during the third quarter. Citizens Financial Group Inc. RI now owns 23,542 shares of the aerospace company’s stock valued at $13,762,000 after acquiring an additional 1,811 shares during the last quarter. Finally, King Luther Capital Management Corp increased its position in Lockheed Martin by 1.1% during the third quarter. King Luther Capital Management Corp now owns 7,652 shares of the aerospace company’s stock valued at $4,473,000 after acquiring an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Buying and Selling

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares of the company’s stock, 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 a total of 7,133 shares of company stock valued at $3,155,916 over the last three months. 0.14% of the stock is owned by company insiders.

Lockheed Martin Stock Down 0.9 %

Shares of LMT opened at $466.48 on Friday. The firm has a market capitalization of $109.80 billion, a P/E ratio of 20.96, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 12-month low of $419.70 and a 12-month high of $618.95. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The firm has a fifty day moving average price of $461.50 and a 200-day moving average price of $516.12.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Equities research analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Analyst Ratings Changes

LMT has been the subject of a number of research reports. Barclays reduced their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. UBS Group cut 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. Citigroup cut their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. JPMorgan Chase & Co. cut their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Finally, Truist Financial began coverage on Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $554.20.

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.