OLD National Bancorp IN Reduces Position in Lockheed Martin Co. (NYSE:LMT)

OLD National Bancorp IN trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,566 shares of the aerospace company’s stock after selling 2,451 shares during the quarter. OLD National Bancorp IN’s holdings in Lockheed Martin were worth $13,395,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LMT. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin during the third quarter worth approximately $26,000. Mattson Financial Services LLC acquired a new stake in shares of Lockheed Martin in the 2nd quarter worth $27,000. Burkett Financial Services LLC purchased a new position in shares of Lockheed Martin during the 3rd quarter worth $32,000. Capital Performance Advisors LLP purchased a new stake in shares of Lockheed Martin in the third quarter valued at about $40,000. Finally, Legacy Investment Solutions LLC acquired a new stake in Lockheed Martin during the third quarter worth about $42,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Trading Down 0.7 %

Shares of LMT stock opened at $454.18 on Thursday. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The company has a 50 day moving average price of $497.18 and a 200 day moving average price of $537.55. The stock has a market capitalization of $107.66 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. Equities research analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is presently 47.79%.

Wall Street Analysts Forecast Growth

LMT has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and decreased their target price for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. Citigroup lowered their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Barclays cut their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Truist Financial initiated coverage on Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target for the company. Finally, StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $556.13.

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.