Saratoga Research & Investment Management Cuts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Saratoga Research & Investment Management trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT) by 14.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 695 shares of the aerospace company’s stock after selling 120 shares during the quarter. Saratoga Research & Investment Management’s holdings in Lockheed Martin were worth $338,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Virtue Capital Management LLC boosted its stake in Lockheed Martin by 112.8% in the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after acquiring an additional 1,192 shares in the last quarter. Hilltop Holdings Inc. boosted its position in shares of Lockheed Martin by 79.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after purchasing an additional 5,361 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Lockheed Martin by 51.7% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock worth $4,630,000 after purchasing an additional 3,247 shares in the last quarter. Capital Investment Advisors LLC increased its position in Lockheed Martin by 2.2% during the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after buying an additional 2,011 shares in the last quarter. Finally, Brady Martz Wealth Solutions LLC purchased a new stake in Lockheed Martin in the fourth quarter valued at about $1,266,000. 74.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LMT has been the topic of a number of research analyst reports. Melius lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. StockNews.com raised shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research report on Monday, March 24th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. Truist Financial assumed coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective on the stock. Finally, UBS Group lowered their price target on 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, nine have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Lockheed Martin currently has a consensus rating of “Hold” and a consensus target price of $539.53.

Insiders Place Their Bets

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’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 transaction of $1,421,495.46. Following the completion of the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. This represents a 61.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction on Wednesday, February 26th. The shares were 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 $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is owned by corporate insiders.

Lockheed Martin Trading Down 0.2 %

Lockheed Martin stock opened at $441.41 on Monday. The firm has a market cap of $103.90 billion, a PE ratio of 19.83, 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 stock’s 50 day simple moving average is $456.49 and its two-hundred day simple moving average is $509.90. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

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

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were issued a $3.30 dividend. The ex-dividend date was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.99%. Lockheed Martin’s payout ratio is 59.30%.

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.