Canopy Partners LLC Grows Stock Position in Lockheed Martin Co. (NYSE:LMT)

Canopy Partners LLC raised its position in Lockheed Martin Co. (NYSE:LMT - Free Report) by 343.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,558 shares of the aerospace company's stock after acquiring an additional 1,207 shares during the quarter. Canopy Partners LLC's holdings in Lockheed Martin were worth $757,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of LMT. Krane Funds Advisors LLC grew its holdings in shares of Lockheed Martin by 71.2% in the fourth quarter. Krane Funds Advisors LLC now owns 719 shares of the aerospace company's stock valued at $349,000 after purchasing an additional 299 shares in the last quarter. U S Wealth Group LLC. acquired a new position in shares of Lockheed Martin in the fourth quarter worth $2,153,000. Invesco Ltd. increased its position in shares of Lockheed Martin by 17.5% during the fourth quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company's stock worth $1,035,989,000 after acquiring an additional 318,007 shares during the period. Bank of Montreal Can raised its stake in shares of Lockheed Martin by 5.7% in the fourth quarter. Bank of Montreal Can now owns 693,918 shares of the aerospace company's stock valued at $337,202,000 after acquiring an additional 37,111 shares in the last quarter. Finally, Certior Financial Group LLC purchased a new position in Lockheed Martin in the fourth quarter valued at $962,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Bank of America downgraded Lockheed Martin from a "buy" rating to a "neutral" rating and cut their price target for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Wells Fargo & Company cut their target price on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Barclays decreased their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. dropped their price objective 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. Finally, Truist Financial began coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a "buy" rating and a $579.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $536.60.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock traded up $11.31 during trading on Friday, reaching $475.01. The company's stock had a trading volume of 677,044 shares, compared to its average volume of 1,235,604. The firm has a market cap of $111.42 billion, a PE ratio of 21.27, a P/E/G ratio of 2.07 and a beta of 0.39. The company has a 50-day moving average price of $449.60 and a two-hundred day moving average price of $501.42. 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 fifty-two week low of $418.88 and a fifty-two week high of $618.95.

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

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were issued a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin's dividend payout ratio (DPR) is presently 59.30%.

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.