Allstate Corp Takes Position in Lockheed Martin Co. (NYSE:LMT)

Allstate Corp bought a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,359 shares of the aerospace company’s stock, valued at approximately $3,090,000.

A number of other hedge funds and other institutional investors have also modified their holdings of LMT. Itau Unibanco Holding S.A. acquired a new stake in Lockheed Martin in the third quarter valued at $26,000. Millstone Evans Group LLC purchased a new position in Lockheed Martin in the fourth quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. acquired a new stake in Lockheed Martin during the fourth quarter worth approximately $34,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin during the 4th quarter worth approximately $35,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at $42,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction on 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock valued at $3,155,916 over the last quarter. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the topic of several research reports. Barclays dropped their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Melius Research downgraded shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Morgan Stanley lowered their price objective 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. Melius cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. dropped their price target 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $539.53.

Lockheed Martin Stock Down 0.2 %

Shares of NYSE LMT opened at $441.41 on Friday. The firm has a 50-day moving average price of $456.49 and a 200 day moving average price of $510.30. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95. 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 stock has a market capitalization of $103.90 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

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

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.