Sei Investments Co. Sells 30,480 Shares of Lockheed Martin Co. (NYSE:LMT)

Sei Investments Co. cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 30.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,799 shares of the aerospace company’s stock after selling 30,480 shares during the quarter. Sei Investments Co.’s holdings in Lockheed Martin were worth $34,411,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin in the 3rd quarter valued at $26,000. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter worth about $32,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin during the 4th quarter worth about $35,000. Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter valued at about $42,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Lockheed Martin in the 4th quarter valued at approximately $42,000. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Down 1.1 %

Shares of LMT stock opened at $434.72 on Tuesday. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a fifty day moving average price of $459.96 and a 200 day moving average price of $513.50. The stock has a market cap of $102.33 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating 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 predict that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. 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 payout ratio is presently 59.30%.

Wall Street Analyst Weigh In

LMT has been the topic of several analyst reports. Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. Truist Financial initiated coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. Morgan Stanley cut their target price 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. Citigroup lowered their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Finally, Bank of America cut Lockheed Martin from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $685.00 to $485.00 in a research report on Monday. One investment 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 company’s stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $544.20.

Insider Activity

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