Robert M. Lightfoot, Jr. Sells 3,213 Shares of Lockheed Martin Co. (NYSE:LMT) Stock

Lockheed Martin Co. (NYSE:LMT) insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $450.19 on Friday. The firm has a market capitalization of $105.97 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The firm has a fifty day simple moving average of $465.79 and a two-hundred day simple moving average of $525.10. 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 12 month low of $419.70 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Analysts forecast 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 will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is currently 59.30%.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds and other institutional investors have recently made changes to their positions in LMT. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin during the third quarter valued at about $26,000. Millstone Evans Group LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at about $32,000. Capital Performance Advisors LLP purchased a new stake in Lockheed Martin during the third quarter valued at about $40,000. Mizuho Securities Co. Ltd. purchased a new stake in Lockheed Martin during the fourth quarter valued at about $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at about $35,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LMT has been the topic of several research reports. Wells Fargo & Company decreased their price target on shares of Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Truist Financial started coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target on the stock. Barclays reduced their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Finally, Citigroup dropped their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $553.67.

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.