Lockheed Martin Co. (NYSE:LMT) Shares Sold by US Bancorp DE

US Bancorp DE trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 3.2% during the fourth quarter, Holdings Channel reports. The firm owned 152,975 shares of the aerospace company’s stock after selling 5,003 shares during the quarter. US Bancorp DE’s holdings in Lockheed Martin were worth $74,337,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in Lockheed Martin in the third quarter worth about $26,000. Capital Performance Advisors LLP bought a new stake in shares of Lockheed Martin in the 3rd quarter worth approximately $40,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin during the 4th quarter valued at approximately $35,000. Legacy Investment Solutions LLC bought a new position in Lockheed Martin during the 3rd quarter worth $42,000. Finally, Vestor Capital LLC bought a new position in Lockheed Martin during the 3rd quarter worth $46,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Up 0.8 %

LMT opened at $450.19 on Friday. The stock’s fifty day moving average is $465.79 and its 200-day moving average is $525.10. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95. The company has a market capitalization of $105.97 billion, a PE ratio of 20.22, a P/E/G ratio of 2.07 and a beta of 0.48. 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 issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping 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, equities analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.93%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Insiders Place Their Bets

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares of the company’s stock, valued at approximately $884,840. This trade represents a 61.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the company’s 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 sale, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LMT. Morgan Stanley reduced their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Barclays reduced their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Truist Financial started coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target on the stock. Royal Bank of Canada reduced their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Finally, Susquehanna lowered their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $553.67.

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.