RNC Capital Management LLC Trims Holdings in Lockheed Martin Co. (NYSE:LMT)

RNC Capital Management LLC lessened its position in Lockheed Martin Co. (NYSE:LMT) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 89,447 shares of the aerospace company’s stock after selling 3,694 shares during the quarter. Lockheed Martin makes up about 2.3% of RNC Capital Management LLC’s investment portfolio, making the stock its 17th largest holding. RNC Capital Management LLC’s holdings in Lockheed Martin were worth $43,466,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of LMT. Algert Global LLC bought a new position in Lockheed Martin in the second quarter valued at about $277,000. Marcum Wealth LLC increased its position in shares of Lockheed Martin by 2.3% during the 3rd quarter. Marcum Wealth LLC now owns 1,848 shares of the aerospace company’s stock valued at $1,080,000 after purchasing an additional 41 shares during the last quarter. Wedmont Private Capital boosted its holdings in shares of Lockheed Martin by 10.5% in the third quarter. Wedmont Private Capital now owns 2,893 shares of the aerospace company’s stock worth $1,752,000 after buying an additional 274 shares during the last quarter. Patten Group Inc. grew its position in Lockheed Martin by 5.1% during the third quarter. Patten Group Inc. now owns 2,593 shares of the aerospace company’s stock valued at $1,516,000 after buying an additional 126 shares during the period. Finally, High Note Wealth LLC increased its holdings in Lockheed Martin by 2.5% during the third quarter. High Note Wealth LLC now owns 4,760 shares of the aerospace company’s stock valued at $2,783,000 after buying an additional 117 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $448.29 on Friday. 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 stock has a market cap of $105.52 billion, a PE ratio of 20.14, a P/E/G ratio of 2.96 and a beta of 0.48. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The stock has a fifty day moving average price of $488.10 and a 200 day moving average price of $536.42.

Lockheed Martin (NYSE:LMT) last released 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 net margin of 7.51% and a return on equity of 101.47%. Sell-side analysts forecast that Lockheed Martin Co. will post 27.29 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company 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 $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.94%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Analyst Ratings Changes

Several research firms recently weighed in on LMT. JPMorgan Chase & Co. lowered their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. TD Cowen lifted their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial started coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. Citigroup dropped their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada decreased their price objective on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and an average target price of $555.60.

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.