Lockheed Martin Co. (NYSE:LMT) Stake Reduced by Roberts Glore & Co. Inc. IL

Roberts Glore & Co. Inc. IL cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,613 shares of the aerospace company’s stock after selling 41 shares during the quarter. Roberts Glore & Co. Inc. IL’s holdings in Lockheed Martin were worth $1,270,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LMT. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin in the 3rd quarter worth about $26,000. Capital Performance Advisors LLP purchased a new position in Lockheed Martin in the 3rd quarter worth about $40,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin in the 4th quarter worth about $35,000. Legacy Investment Solutions LLC purchased a new position in Lockheed Martin in the 3rd quarter worth about $42,000. Finally, Sugar Maple Asset Management LLC purchased a new position in Lockheed Martin in the 4th quarter worth about $47,000. 74.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Royal Bank of Canada dropped their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. UBS Group lowered their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Truist Financial began coverage on Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. Citigroup lowered their target price on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and lowered their target price for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $554.20.

Lockheed Martin Stock Up 2.8 %

Shares of Lockheed Martin stock opened at $474.31 on Friday. The firm has a market cap of $111.65 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95. The stock has a 50-day simple moving average of $462.89 and a 200-day simple moving average of $521.59.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, equities research analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.78%. Lockheed Martin’s dividend payout ratio (DPR) is currently 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.