Lockheed Martin Co. (NYSE:LMT) Shares Sold by Carlton Hofferkamp & Jenks Wealth Management LLC

Carlton Hofferkamp & Jenks Wealth Management LLC decreased its stake in Lockheed Martin Co. (NYSE:LMT) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,384 shares of the aerospace company’s stock after selling 50 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Lockheed Martin were worth $1,523,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at $26,000. Capital Performance Advisors LLP acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at $40,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin in the 4th quarter valued at $35,000. Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at $42,000. Finally, Vestor Capital LLC purchased a new stake in Lockheed Martin in the 3rd quarter valued at $46,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Activity at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction dated 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 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 Securities & Exchange Commission, which is available at this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was 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 in the company, 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. In the last three months, insiders have sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on LMT. Truist Financial began coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. UBS Group reduced their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. StockNews.com downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price target for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Finally, 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 research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $553.67.

Lockheed Martin Stock Performance

NYSE:LMT opened at $451.44 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. Lockheed Martin Co. has a fifty-two week low of $419.70 and a fifty-two week high of $618.95. The stock has a market cap of $106.26 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The firm’s fifty day simple moving average is $465.09 and its 200-day simple moving average is $524.06.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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%. Analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.92%. Lockheed Martin’s payout ratio is 59.30%.

Lockheed Martin 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.