King Luther Capital Management Corp Sells 670 Shares of Lockheed Martin Co. (NYSE:LMT)

King Luther Capital Management Corp trimmed its stake in Lockheed Martin Co. (NYSE:LMT) by 8.8% in the 4th quarter, HoldingsChannel reports. The fund owned 6,982 shares of the aerospace company’s stock after selling 670 shares during the quarter. King Luther Capital Management Corp’s holdings in Lockheed Martin were worth $3,393,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in LMT. Itau Unibanco Holding S.A. bought a new position in shares of Lockheed Martin in the 3rd quarter worth $26,000. Heck Capital Advisors LLC bought a new position in shares of Lockheed Martin in the 4th quarter worth $35,000. Legacy Investment Solutions LLC bought a new position in shares of Lockheed Martin in the 3rd quarter worth $42,000. Sugar Maple Asset Management LLC bought a new position in shares of Lockheed Martin in the 4th quarter worth $47,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Lockheed Martin in the 4th quarter worth $52,000. 74.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Royal Bank of Canada reduced their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Truist Financial began coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Lockheed Martin in a research report on Monday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $554.20.

Insider Activity at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the 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 transaction, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is currently owned by insiders.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $461.47 on Thursday. Lockheed Martin Co. has a 12 month low of $419.70 and a 12 month high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a market capitalization of $108.62 billion, a P/E ratio of 20.73, a PEG ratio of 2.07 and a beta of 0.43. The business has a 50 day simple moving average of $461.97 and a two-hundred day simple moving average of $519.79.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.86%. 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.