Ally Financial Inc. Invests $1.46 Million in Lockheed Martin Co. (NYSE:LMT)

Ally Financial Inc. purchased a new position in Lockheed Martin Co. (NYSE:LMT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,000 shares of the aerospace company's stock, valued at approximately $1,458,000.

Several other institutional investors also recently modified their holdings of LMT. First Commonwealth Financial Corp PA lifted its holdings in shares of Lockheed Martin by 6.0% during the fourth quarter. First Commonwealth Financial Corp PA now owns 1,685 shares of the aerospace company's stock valued at $819,000 after purchasing an additional 96 shares during the last quarter. Demars Financial Group LLC boosted its holdings in shares of Lockheed Martin by 47,002.5% in the fourth quarter. Demars Financial Group LLC now owns 433,343 shares of the aerospace company's stock worth $210,579,000 after buying an additional 432,423 shares during the period. MSH Capital Advisors LLC purchased a new position in shares of Lockheed Martin in the fourth quarter worth approximately $261,000. Marshall Wace LLP lifted its position in shares of Lockheed Martin by 37.6% in the 4th quarter. Marshall Wace LLP now owns 478,105 shares of the aerospace company's stock valued at $232,330,000 after acquiring an additional 130,726 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Lockheed Martin by 6.6% in the fourth quarter. NewEdge Advisors LLC now owns 35,889 shares of the aerospace company's stock worth $17,440,000 after buying an additional 2,210 shares during the period. Institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Performance

LMT traded down $8.99 during trading on Monday, hitting $455.09. The stock had a trading volume of 468,759 shares, compared to its average volume of 1,241,929. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 12 month low of $418.88 and a 12 month high of $618.95. The company has a 50 day simple moving average of $452.24 and a 200-day simple moving average of $495.75. The firm has a market cap of $106.75 billion, a PE ratio of 20.44, a P/E/G ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping 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%. Analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.90%. The ex-dividend date was Monday, March 3rd. Lockheed Martin's dividend payout ratio (DPR) is presently 59.30%.

Insiders Place Their Bets

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business's stock in a transaction 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 transaction, the insider now owns 2,000 shares of the company's stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the firm's stock in a transaction on 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 sale, the vice president now owns 2,278 shares of the company's stock, valued at approximately $1,008,265.58. This trade represents a 23.69 % 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 worth $3,155,916 over the last quarter. Company insiders own 0.14% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Melius cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Melius Research cut shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Wells Fargo & Company cut their price objective on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Susquehanna lowered their target price on Lockheed Martin from $590.00 to $550.00 and set a "positive" rating on the stock in a research note on Wednesday, January 29th. Finally, Truist Financial assumed coverage on Lockheed Martin in a research note on Tuesday, January 14th. They set a "buy" rating and a $579.00 price target for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $539.93.

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.