Ambassador Advisors LLC grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT – Get Rating) by 11.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 750 shares of the aerospace company’s stock after purchasing an additional 80 shares during the quarter. Ambassador Advisors LLC’s holdings in Lockheed Martin were worth $290,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. IMA Wealth Inc. lifted its stake in shares of Lockheed Martin by 41.8% during the 2nd quarter. IMA Wealth Inc. now owns 78 shares of the aerospace company’s stock worth $34,000 after purchasing an additional 23 shares during the period. Tilia Fiduciary Partners Inc. raised its position in shares of Lockheed Martin by 3.2% in the 3rd quarter. Tilia Fiduciary Partners Inc. now owns 751 shares of the aerospace company’s stock worth $309,000 after buying an additional 23 shares during the period. PrairieView Partners LLC raised its position in shares of Lockheed Martin by 22.3% in the 3rd quarter. PrairieView Partners LLC now owns 126 shares of the aerospace company’s stock worth $49,000 after buying an additional 23 shares during the period. Fairhaven Wealth Management LLC raised its position in shares of Lockheed Martin by 3.6% in the 3rd quarter. Fairhaven Wealth Management LLC now owns 660 shares of the aerospace company’s stock worth $255,000 after buying an additional 23 shares during the period. Finally, MADDEN SECURITIES Corp increased its holdings in Lockheed Martin by 3.2% in the 3rd quarter. MADDEN SECURITIES Corp now owns 814 shares of the aerospace company’s stock valued at $314,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently commented on LMT. Morgan Stanley decreased their price target on Lockheed Martin from $542.00 to $532.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 25th. The Goldman Sachs Group cut shares of Lockheed Martin from a “neutral” rating to a “sell” rating and cut their target price for the stock from $388.00 to $332.00 in a report on Friday, January 13th. Credit Suisse Group raised Lockheed Martin from an “underperform” rating to an “outperform” rating and lifted their price target for the company from $427.00 to $510.00 in a report on Monday, February 6th. StockNews.com began coverage on Lockheed Martin in a report on Thursday. They set a “buy” rating on the stock. Finally, Citigroup began coverage on Lockheed Martin in a report on Thursday, December 8th. They set a “buy” rating and a $546.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Hold” and an average target price of $490.43.
Lockheed Martin Price Performance
Lockheed Martin (NYSE:LMT – Get Rating) last announced its earnings results on Tuesday, January 24th. The aerospace company reported $7.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.41 by $0.38. Lockheed Martin had a net margin of 8.69% and a return on equity of 68.01%. The company had revenue of $18.99 billion for the quarter, compared to analyst estimates of $18.25 billion. During the same period in the prior year, the business earned $7.47 earnings per share. Lockheed Martin’s quarterly revenue was up 7.1% on a year-over-year basis. Sell-side analysts forecast that Lockheed Martin Co. will post 26.86 EPS for the current fiscal year.
Lockheed Martin Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Wednesday, March 1st will be issued a $3.00 dividend. The ex-dividend date is Tuesday, February 28th. This represents a $12.00 annualized dividend and a yield of 2.54%. Lockheed Martin’s dividend payout ratio is currently 55.27%.
Insider Activity at Lockheed Martin
In other Lockheed Martin news, Director John Donovan acquired 556 shares of the business’s stock in a transaction that occurred on Wednesday, January 25th. The shares were acquired at an average cost of $451.20 per share, for a total transaction of $250,867.20. Following the completion of the acquisition, the director now directly owns 2,324 shares of the company’s stock, valued at approximately $1,048,588.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Timothy S. Cahill sold 2,534 shares of the stock in a transaction on Monday, March 6th. The shares were sold at an average price of $479.44, for a total transaction of $1,214,900.96. Following the completion of the sale, the executive vice president now owns 10,460 shares of the company’s stock, valued at $5,014,942.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Donovan acquired 556 shares of the stock in a transaction dated Wednesday, January 25th. The shares were bought at an average cost of $451.20 per share, with a total value of $250,867.20. Following the transaction, the director now directly owns 2,324 shares of the company’s stock, valued at $1,048,588.80. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.
Lockheed Martin Profile
Lockheed Martin Corp. is a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
- Get a free copy of the StockNews.com research report on Lockheed Martin (LMT)
- Meta Platforms: Efficiency Gains Momentum, Stock Accelerates
- Pfizer’s Latest Acquisition Strengthens the Case for PFE Stock
- SentinelOne: Reversal In-Play For Cybersecurity Stocks
- Is Sportradar Group A Growth Stock To Bet On In 2023?
- Strong Guidance says Boeing is Ready for Takeoff
Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Co. (NYSE:LMT – Get Rating).
Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.