Mitsubishi UFJ Trust & Banking Corp Trims Stake in Lockheed Martin Co. (NYSE:LMT)

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 161,023 shares of the aerospace company’s stock after selling 1,215 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.07% of Lockheed Martin worth $78,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC lifted its stake in shares of Lockheed Martin by 42.9% during the 3rd quarter. Larson Financial Group LLC now owns 630 shares of the aerospace company’s stock valued at $368,000 after buying an additional 189 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Lockheed Martin by 0.9% in the third quarter. Fisher Asset Management LLC now owns 6,742 shares of the aerospace company’s stock valued at $3,941,000 after acquiring an additional 61 shares in the last quarter. Bank of Hawaii boosted its stake in shares of Lockheed Martin by 8.1% in the third quarter. Bank of Hawaii now owns 492 shares of the aerospace company’s stock worth $288,000 after acquiring an additional 37 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Lockheed Martin in the third quarter worth about $1,003,000. Finally, Brown Brothers Harriman & Co. grew its position in shares of Lockheed Martin by 51.9% during the third quarter. Brown Brothers Harriman & Co. now owns 8,378 shares of the aerospace company’s stock worth $4,897,000 after purchasing an additional 2,861 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Insider Buying and Selling

In related news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction dated Wednesday, February 26th. The shares were 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 $1,008,265.58. This trade represents a 23.69 % decrease in their position. The sale was disclosed in a filing with the SEC, 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 $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LMT shares. JPMorgan Chase & Co. dropped their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Citigroup cut their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Melius cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday. Truist Financial initiated coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective for the company. Finally, Barclays reduced their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $544.20.

Lockheed Martin Stock Up 1.8 %

NYSE LMT opened at $442.63 on Wednesday. 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 52 week low of $419.70 and a 52 week high of $618.95. The firm has a market capitalization of $104.19 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 2.07 and a beta of 0.43. The company has a fifty day moving average of $459.13 and a two-hundred day moving average of $512.63.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping 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 predict that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.98%. Lockheed Martin’s payout ratio is 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.