Lockheed Martin Co. (NYSE:LMT) Shares Sold by Vestcor Inc

Vestcor Inc decreased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 16.4% during the 4th quarter, HoldingsChannel reports. The fund owned 15,316 shares of the aerospace company’s stock after selling 2,997 shares during the quarter. Vestcor Inc’s holdings in Lockheed Martin were worth $7,443,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Lockheed Martin in the 4th quarter valued at about $10,667,000. Rakuten Securities Inc. raised its holdings in Lockheed Martin by 35.5% in the 4th quarter. Rakuten Securities Inc. now owns 248 shares of the aerospace company’s stock valued at $121,000 after buying an additional 65 shares during the period. Essential Planning LLC. purchased a new stake in Lockheed Martin in the 4th quarter valued at about $1,042,000. Truvestments Capital LLC raised its holdings in Lockheed Martin by 5.5% in the 4th quarter. Truvestments Capital LLC now owns 6,457 shares of the aerospace company’s stock valued at $3,138,000 after buying an additional 339 shares during the period. Finally, Hopwood Financial Services Inc. purchased a new stake in Lockheed Martin in the 4th quarter valued at about $476,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LMT. Truist Financial began coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective on the stock. Wells Fargo & Company restated an “equal weight” rating on shares of Lockheed Martin in a report on Monday. Morgan Stanley cut their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Royal Bank of Canada cut their price target on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their price target 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $554.20.

Insider Activity at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s 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 directly owns 2,000 shares of the company’s stock, valued at $884,840. This represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction that occurred 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 directly 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 sold 7,133 shares of company stock valued at $3,155,916 over the last three months. 0.17% of the stock is owned by corporate insiders.

Lockheed Martin Stock Down 1.6 %

LMT stock opened at $461.47 on Thursday. The company’s 50 day moving average price is $461.97 and its 200 day moving average price is $519.79. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. Lockheed Martin Co. has a fifty-two week low of $419.70 and a fifty-two week high of $618.95. The firm has a market capitalization of $108.62 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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%. On average, 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 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 yield of 2.86%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 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.