Flavin Financial Services Inc. has reduced its holdings in Lockheed Martin Corporation (NYSE: LMT) by 6.6% during the second quarter, as reflected in its recent 13F filing with the Securities and Exchange Commission. The firm now owns 4,312 shares of Lockheed Martin after selling 307 shares in the quarter, which represents approximately 1.9% of Flavin’s total portfolio, making it the 20th largest position.
At the end of the most recent quarter, Flavin’s stake in Lockheed Martin was valued at approximately $1,997,000. This adjustment comes amidst a broader trend, as several other hedge funds have also altered their positions in the aerospace company. For instance, Brighton Jones LLC increased its holdings by 5.0% in the fourth quarter, acquiring an additional 191 shares to reach a total of 3,995 shares, valued at $1,941,000.
ORG Wealth Partners LLC made a notable move, increasing its stake by 122.4% in the first quarter, resulting in ownership of 169 shares worth $76,000. Similarly, Carret Asset Management LLC raised its holdings by 3.3%, now owning 1,882 shares valued at $841,000. Jamison Private Wealth Management Inc. also boosted its position by 1.6%, now holding 17,917 shares worth approximately $8,004,000.
Currently, institutional investors own approximately 74.19% of Lockheed Martin’s stock.
Lockheed Martin’s Financial Performance and Dividends
Lockheed Martin’s shares opened at $495.24 on Friday, with a market capitalization of $115.62 billion. The company’s price-to-earnings ratio stands at 27.89, while its PEG ratio is 1.74. The stock has performed within a twelve-month range, hitting a low of $410.11 and a high of $618.95. Additionally, Lockheed Martin has a quick ratio of 0.83, a current ratio of 0.98, and a debt-to-equity ratio of 3.47.
On the dividend front, Lockheed Martin recently announced a quarterly dividend of $3.45, scheduled for payment on December 30, 2023. Investors on record as of December 1, 2023, will receive this dividend, which represents an increase from the previous quarterly dividend of $3.30. This change signifies an annualized dividend of $13.80 and a yield of 2.8%, with a payout ratio of 77.70%.
Analyst Ratings and Market Outlook
Recent assessments from various research firms have highlighted mixed sentiments regarding Lockheed Martin’s stock. Weiss Ratings reaffirmed a “hold” rating on October 8, 2023. In contrast, Alembic Global Advisors upgraded their stance from “neutral” to “overweight” on August 28, 2023. Wall Street Zen downgraded the stock from “buy” to “hold” on July 26, 2023.
Sanford C. Bernstein set a target price of $551.00 while issuing a “market perform” rating. Conversely, JPMorgan Chase & Co. lowered its target price from $520.00 to $465.00, maintaining an “overweight” rating. Overall, one analyst has rated the stock as a “Strong Buy,” six as “Buy,” fifteen as “Hold,” and one as “Sell.” According to MarketBeat.com, the average rating remains “Hold” with a consensus target price of $510.29.
Lockheed Martin Corporation is a leading player in the aerospace and security sector, specializing in the research, design, development, and manufacturing of high-tech systems and services. The company operates across various segments, including Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.
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