RiverPark Advisors LLC Grows Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

RiverPark Advisors LLC grew its position in shares of Lockheed Martin Co. (NYSE:LMT) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,583 shares of the aerospace company’s stock after purchasing an additional 117 shares during the period. RiverPark Advisors LLC’s holdings in Lockheed Martin were worth $769,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Truist Financial initiated coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target for the company. Barclays dropped their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Wells Fargo & Company decreased their price target on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada lowered Lockheed Martin from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. Finally, Bank of America downgraded shares of Lockheed Martin from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $544.79.

Insider Buying and Selling

In other 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 value of $312,925.27. Following the completion of the transaction, the vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s 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 transaction, the insider now owns 2,000 shares in the company, valued at approximately $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 valued at $3,155,916 over the last quarter. Corporate insiders own 0.14% of the company’s stock.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $463.66 on Thursday. Lockheed Martin Co. has a fifty-two week low of $418.88 and a fifty-two week high of $618.95. The stock has a market cap of $108.76 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 2.07 and a beta of 0.39. The stock’s 50 day simple moving average is $453.93 and its two-hundred day simple moving average is $494.28. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating the consensus estimate of $6.34 by $0.94. The company had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal 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 dividend of $3.30 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.85%. Lockheed Martin’s dividend payout ratio (DPR) is currently 57.02%.

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.