Plato Investment Management Ltd Buys 1,193 Shares of Lockheed Martin Co. (NYSE:LMT)

Plato Investment Management Ltd grew its stake in Lockheed Martin Co. (NYSE:LMT) by 64.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,045 shares of the aerospace company’s stock after acquiring an additional 1,193 shares during the quarter. Plato Investment Management Ltd’s holdings in Lockheed Martin were worth $1,485,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LMT. Itau Unibanco Holding S.A. bought a new stake in Lockheed Martin in the third quarter worth $26,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin in the fourth quarter worth $35,000. Capital Performance Advisors LLP bought a new stake in Lockheed Martin in the third quarter worth $40,000. Legacy Investment Solutions LLC bought a new stake in Lockheed Martin in the third quarter worth $42,000. Finally, Vestor Capital LLC bought a new stake in Lockheed Martin in the third quarter worth $46,000. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Performance

Shares of LMT opened at $451.44 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The business has a 50-day simple moving average of $465.09 and a two-hundred day simple moving average of $524.06. The stock has a market cap of $106.26 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 2.07 and a beta of 0.48. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 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%. On average, analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently declared 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. This represents a $13.20 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Insiders Place Their Bets

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the 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 sale, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the sale, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock worth $3,155,916 over the last quarter. 0.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Truist Financial assumed coverage on Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. Royal Bank of Canada lowered their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company lowered their price target on Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Finally, Citigroup lowered their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus target price of $553.67.

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.