Lockheed Martin Co. (NYSE:LMT) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,272 shares of the aerospace company’s stock after selling 8,926 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.05% of Lockheed Martin worth $58,483,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Itau Unibanco Holding S.A. acquired a new stake in Lockheed Martin during the third quarter worth approximately $26,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin during the fourth quarter worth approximately $35,000. Capital Performance Advisors LLP acquired a new stake in Lockheed Martin during the third quarter worth approximately $40,000. Legacy Investment Solutions LLC acquired a new stake in Lockheed Martin during the third quarter worth approximately $42,000. Finally, Vestor Capital LLC acquired a new stake in Lockheed Martin during the third quarter worth approximately $46,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on LMT shares. Truist Financial started coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. UBS Group decreased their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Royal Bank of Canada decreased their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $555.60.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $434.36 on Friday. The company’s fifty day simple moving average is $480.54 and its 200-day simple moving average is $534.28. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The company has a market cap of $102.24 billion, a PE ratio of 19.51, a P/E/G ratio of 2.12 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating 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%. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 27.14 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Lockheed Martin 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.