Fortis Capital Advisors LLC Has $475,000 Position in Lockheed Martin Co. (NYSE:LMT)

25 May 2024, 23:54 by Renee Jackson · The Cerbat Gem

Fortis Capital Advisors LLC raised its holdings in Lockheed Martin Co. (NYSE:LMT – Free Report) by 41.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,048 shares of the aerospace company’s stock after purchasing an additional 307 shares during the quarter. Fortis Capital Advisors LLC’s holdings in Lockheed Martin were worth $475,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Warther Private Wealth LLC raised its position in Lockheed Martin by 86.1% during the 4th quarter. Warther Private Wealth LLC now owns 16,369 shares of the aerospace company’s stock worth $7,419,000 after purchasing an additional 7,575 shares during the last quarter. Herold Advisors Inc. raised its position in Lockheed Martin by 8.6% during the 3rd quarter. Herold Advisors Inc. now owns 3,448 shares of the aerospace company’s stock worth $1,410,000 after purchasing an additional 274 shares during the last quarter. Alethea Capital Management LLC bought a new position in Lockheed Martin during the 3rd quarter worth $415,000. Brandywine Global Investment Management LLC raised its position in Lockheed Martin by 14.1% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 305,555 shares of the aerospace company’s stock worth $124,960,000 after purchasing an additional 37,827 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its position in Lockheed Martin by 0.4% during the 4th quarter. AdvisorNet Financial Inc now owns 7,741 shares of the aerospace company’s stock worth $3,509,000 after purchasing an additional 29 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Activity at Lockheed Martin

In related news, SVP Maryanne Lavan sold 4,022 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total value of $1,747,116.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Gregory M. Ulmer sold 6,204 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the transaction, the insider now directly owns 12,604 shares of the company’s stock, valued at $5,434,718.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maryanne Lavan sold 4,022 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The disclosure for this sale can be found here. Insiders have sold a total of 16,874 shares of company stock valued at $7,249,946 over the last 90 days. 0.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on LMT shares. Citigroup boosted their target price on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group decreased their target price on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. raised Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $475.00 to $518.00 in a research report on Monday, April 15th. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Finally, Wells Fargo & Company lifted their price target on Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $485.40.

Check Out Our Latest Report on Lockheed Martin

Lockheed Martin Stock Performance

NYSE LMT traded up $0.27 on Friday, hitting $467.35. 513,802 shares of the stock traded hands, compared to its average volume of 757,857. The firm has a market capitalization of $112.14 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 4.40 and a beta of 0.46. The business’s fifty day moving average is $457.87 and its two-hundred day moving average is $447.35. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $479.50. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.11 and a current ratio of 1.30.

Lockheed Martin (NYSE:LMT – Get Free Report) last posted its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The firm had revenue of $17.20 billion for the quarter, compared to the consensus estimate of $16.04 billion. During the same quarter in the prior year, the business posted $6.43 earnings per share. The business’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, equities analysts anticipate that Lockheed Martin Co. will post 26.17 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be paid a $3.15 dividend. The ex-dividend date is Monday, June 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.70%. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Lockheed Martin Company Profile

(Free Report)

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.