Lockheed Martin Co. (NYSE:LMT) Shares Bought by Summitry LLC

Summitry LLC increased its holdings in Lockheed Martin Co. (NYSE:LMT) by 6.9% during the 4th quarter, HoldingsChannel reports. The fund owned 10,205 shares of the aerospace company’s stock after acquiring an additional 661 shares during the quarter. Summitry LLC’s holdings in Lockheed Martin were worth $4,959,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LMT. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin during the 3rd quarter worth approximately $26,000. Millstone Evans Group LLC bought a new stake in shares of Lockheed Martin in the fourth quarter worth $32,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin in the fourth quarter valued at $35,000. Legacy Investment Solutions LLC bought a new position in Lockheed Martin during the 3rd quarter valued at $42,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in Lockheed Martin during the 4th quarter worth $42,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction on 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 trade represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LMT. StockNews.com upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Monday. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $685.00 to $485.00 in a report on Monday. Truist Financial began coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. Citigroup reduced their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Finally, Melius lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $544.20.

Lockheed Martin Trading Up 1.8 %

Shares of NYSE:LMT opened at $442.63 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The company’s 50-day moving average price is $459.13 and its 200 day moving average price is $512.63. The company has a market cap of $104.19 billion, a PE ratio of 19.88, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a fifty-two week low of $419.70 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Sell-side 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 will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. 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 2.98%. Lockheed Martin’s dividend payout ratio (DPR) 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.