Franklin Resources Inc. Sells 367,608 Shares of Lockheed Martin Co. (NYSE:LMT)

Franklin Resources Inc. reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 17.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,717,643 shares of the aerospace company’s stock after selling 367,608 shares during the quarter. Franklin Resources Inc. owned 0.73% of Lockheed Martin worth $834,671,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin during the 3rd quarter valued at $26,000. Millstone Evans Group LLC purchased a new stake in Lockheed Martin in the fourth quarter worth $32,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Lockheed Martin in the 4th quarter worth about $34,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin during the 4th quarter valued at about $35,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Lockheed Martin during the 3rd quarter valued at $42,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

NYSE LMT opened at $441.41 on Monday. The stock has a market capitalization 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 1-year low of $419.70 and a 1-year high of $618.95. The business has a 50 day simple moving average of $456.49 and a two-hundred day simple moving average of $509.90. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

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

Lockheed Martin Dividend Announcement

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

Analysts Set New Price Targets

LMT has been the topic of a number of research analyst reports. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their price target for the company from $685.00 to $485.00 in a report on Monday, March 24th. Truist Financial initiated coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. Morgan Stanley cut their price target on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Finally, Susquehanna decreased 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $539.53.

Insider Buying and Selling

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were 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 owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock worth $3,155,916 over the last three months. 0.17% of the stock is owned by insiders.

Lockheed Martin Company Profile

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.