Lockheed Martin Co. (NYSE:LMT) Shares Sold by Orrstown Financial Services Inc.

Orrstown Financial Services Inc. lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 34.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 675 shares of the aerospace company’s stock after selling 353 shares during the quarter. Orrstown Financial Services Inc.’s holdings in Lockheed Martin were worth $328,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Virtue Capital Management LLC raised its holdings in shares of Lockheed Martin by 112.8% in the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after purchasing an additional 1,192 shares during the period. Bank of Montreal Can increased its position in Lockheed Martin by 2.1% during the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after purchasing an additional 13,253 shares in the last quarter. Hilltop Holdings Inc. raised its holdings in 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 buying an additional 5,361 shares during the period. Capital Investment Advisors LLC lifted its position in Lockheed Martin by 2.2% during the fourth 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, Old West Investment Management LLC grew its stake in Lockheed Martin by 6.6% during the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after buying an additional 1,643 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 0.1 %

Shares of LMT stock traded down $0.27 during trading hours on Wednesday, hitting $457.18. 231,920 shares of the company were exchanged, compared to its average volume of 1,300,756. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The stock has a market capitalization of $108.37 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 4.05 and a beta of 0.48. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The business’s 50-day simple moving average is $497.18 and its two-hundred day simple moving average is $537.55.

Lockheed Martin (NYSE:LMT) last issued 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 101.44% and a net margin of 9.36%. Sell-side analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced 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. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.89%. Lockheed Martin’s dividend payout ratio (DPR) is 47.79%.

Wall Street Analyst Weigh In

Several research analysts have commented on LMT shares. Royal Bank of Canada cut their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Truist Financial started coverage on Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. Citigroup lowered their price objective 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. TD Cowen boosted their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $571.40.

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.