Leigh Baldwin & CO. LLC Makes New $451.99 Million Investment in Lockheed Martin Co. (NYSE:LMT)

Leigh Baldwin & CO. LLC purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 930,125 shares of the aerospace company's stock, valued at approximately $451,985,000. Lockheed Martin makes up 2.4% of Leigh Baldwin & CO. LLC's holdings, making the stock its 11th largest holding. Leigh Baldwin & CO. LLC owned approximately 0.40% of Lockheed Martin as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Millstone Evans Group LLC acquired a new position in shares of Lockheed Martin during the fourth quarter valued at about $32,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $34,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $35,000. Redwood Park Advisors LLC bought a new position in Lockheed Martin during the fourth quarter valued at $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Lockheed Martin in the fourth quarter worth $42,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Performance

LMT traded down $13.60 during midday trading on Tuesday, reaching $459.56. The company had a trading volume of 1,855,235 shares, compared to its average volume of 1,274,275. The business has a 50-day moving average of $462.06 and a two-hundred day moving average of $481.44. The company has a market cap of $107.67 billion, a P/E ratio of 20.65, a P/E/G ratio of 2.07 and a beta of 0.29. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 1 year low of $418.88 and a 1 year high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.34 by $0.94. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. The company had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. As a group, equities research analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin's dividend payout ratio (DPR) is presently 57.02%.

Analyst Upgrades and Downgrades

Several research firms recently commented on LMT. Royal Bank of Canada lowered shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and reduced their price objective for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. JPMorgan Chase & Co. reduced their target price on shares of 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 shares of Lockheed Martin in a report on Tuesday, January 14th. They set a "buy" rating and a $579.00 target price for the company. Citigroup reduced their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. Finally, Morgan Stanley raised shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price target for the company in a research report on Wednesday, April 16th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $541.80.

Insiders Place Their Bets

In other 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 completion of the transaction, the insider now directly owns 2,000 shares of the company's stock, valued at approximately $884,840. The trade was a 61.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the sale, the vice president now directly owns 2,278 shares of the company's stock, valued at $1,008,265.58. The trade was a 23.69% decrease in their position. The disclosure for this sale can be found here. Insiders have 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.

About Lockheed Martin

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.