SouthState Corp Sells 41 Shares of Lockheed Martin Co. (NYSE:LMT)

SouthState Corp cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,562 shares of the aerospace company’s stock after selling 41 shares during the quarter. SouthState Corp’s holdings in Lockheed Martin were worth $1,731,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its stake in Lockheed Martin by 17.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after acquiring an additional 1,132,461 shares during the last quarter. Geode Capital Management LLC boosted its stake in Lockheed Martin by 1.8% in the third quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock valued at $2,816,898,000 after acquiring an additional 83,997 shares during the last quarter. FMR LLC boosted its stake in Lockheed Martin by 6.6% in the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after acquiring an additional 209,591 shares during the last quarter. Wellington Management Group LLP boosted its stake in Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after acquiring an additional 240,306 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Lockheed Martin by 0.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company’s stock valued at $847,361,000 after acquiring an additional 15,085 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Insider Transactions at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares in the company, valued at approximately $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 accessible through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 2,278 shares in the company, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock worth $3,155,916 in the last ninety days. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Susquehanna reduced their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. Wells Fargo & Company reissued an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. Morgan Stanley reduced their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Citigroup reduced their price target on shares of 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, Barclays reduced their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $554.20.

Lockheed Martin Stock Down 0.2 %

Shares of LMT stock opened at $467.07 on Monday. 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 Co. has a 1 year low of $419.70 and a 1 year high of $618.95. The firm’s fifty day moving average price is $461.39 and its two-hundred day moving average price is $518.19. The firm has a market capitalization of $109.94 billion, a P/E ratio of 20.98, a PEG ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.83%. Lockheed Martin’s dividend payout ratio is presently 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.