Woodmont Investment Counsel LLC Sells 142 Shares of Lockheed Martin Co. (NYSE:LMT)

Woodmont Investment Counsel LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,364 shares of the aerospace company’s stock after selling 142 shares during the period. Woodmont Investment Counsel LLC’s holdings in Lockheed Martin were worth $10,868,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LMT. Itau Unibanco Holding S.A. bought a new stake in Lockheed Martin in the third quarter worth approximately $26,000. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter worth approximately $32,000. Heck Capital Advisors LLC bought a new stake 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 during the 3rd quarter valued at $42,000. Finally, Runnymede Capital Advisors Inc. bought a new position in Lockheed Martin during the fourth quarter worth $42,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LMT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price objective for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. Citigroup dropped their price target 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. Truist Financial initiated coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. Susquehanna cut their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, January 29th. Finally, 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $554.20.

Lockheed Martin Stock Performance

LMT stock opened at $440.26 on Monday. The business has a 50 day moving average of $460.94 and a 200-day moving average of $514.45. The firm has a market cap of $103.63 billion, a PE ratio of 19.78, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 12-month low of $419.70 and a 12-month high of $618.95. 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 (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Insider Transactions at Lockheed Martin

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

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.