Baxter Bros Inc. Trims Stake in Lockheed Martin Co. (NYSE:LMT)

Baxter Bros Inc. cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 8.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,474 shares of the aerospace company’s stock after selling 575 shares during the quarter. Baxter Bros Inc.’s holdings in Lockheed Martin were worth $3,146,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Virtue Capital Management LLC grew its holdings in Lockheed Martin by 112.8% in the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after buying an additional 1,192 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Lockheed Martin by 2.1% in the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after purchasing an additional 13,253 shares in the last quarter. Hilltop Holdings Inc. raised its stake in shares of Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after acquiring an additional 5,361 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its position in shares of Lockheed Martin by 51.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock worth $4,630,000 after buying an additional 3,247 shares in the last quarter. Finally, Capital Investment Advisors LLC increased its position in shares of Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after purchasing an additional 2,011 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 1.1 %

Shares of LMT opened at $434.72 on Tuesday. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95. The firm has a market capitalization of $102.33 billion, a P/E ratio of 19.53, 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 quick ratio of 0.95 and a current ratio of 1.13. The company has a 50-day simple moving average of $459.96 and a 200-day simple moving average of $513.50.

Lockheed Martin (NYSE:LMT) last announced its 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 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 year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.04%. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

Analysts Set New Price Targets

Several research firms recently weighed in on LMT. Royal Bank of Canada decreased their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Truist Financial assumed coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. Susquehanna cut their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. StockNews.com upgraded Lockheed Martin from a “hold” rating to a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. lowered their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average price target of $544.20.

Insider Activity

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

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.