Lockheed Martin Co. (NYSE:LMT) Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 230.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 210,193 shares of the aerospace company’s stock after buying an additional 146,581 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Lockheed Martin were worth $102,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin during the third quarter worth $26,000. Millstone Evans Group LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter worth approximately $32,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Lockheed Martin in the fourth quarter valued at about $34,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at about $35,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Lockheed Martin in the third quarter valued at approximately $42,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Bank of America lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and reduced their price target for the company from $685.00 to $485.00 in a research report on Monday, March 24th. UBS Group dropped their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Truist Financial initiated coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective on the stock. Finally, Barclays cut their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $539.53.

Insiders Place Their Bets

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The sale 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 firm’s 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 transaction, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is owned by company insiders.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $446.81 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The firm has a 50-day simple moving average of $455.61 and a 200 day simple moving average of $509.05. The company has a market cap of $105.17 billion, a PE ratio of 20.07, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a fifty-two week low of $419.70 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s payout ratio is currently 59.30%.

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.