GLOBALT Investments LLC GA Trims Holdings in Lockheed Martin Co. (NYSE:LMT)

GLOBALT Investments LLC GA decreased its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,153 shares of the aerospace company’s stock after selling 139 shares during the period. GLOBALT Investments LLC GA’s holdings in Lockheed Martin were worth $5,420,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. SlateStone Wealth LLC increased its stake in Lockheed Martin by 2.4% in the fourth quarter. SlateStone Wealth LLC now owns 17,314 shares of the aerospace company’s stock worth $8,414,000 after purchasing an additional 409 shares during the period. GWN Securities Inc. purchased a new stake in Lockheed Martin in the fourth quarter worth $1,428,000. Patten & Patten Inc. TN grew its position in shares of Lockheed Martin by 3.6% during the 4th quarter. Patten & Patten Inc. TN now owns 2,087 shares of the aerospace company’s stock worth $1,014,000 after buying an additional 72 shares in the last quarter. Harbour Investments Inc. grew its position in shares of Lockheed Martin by 4.5% during the 4th quarter. Harbour Investments Inc. now owns 5,172 shares of the aerospace company’s stock worth $2,513,000 after buying an additional 222 shares in the last quarter. Finally, Pollock Investment Advisors LLC bought a new position in shares of Lockheed Martin during the 4th quarter worth $1,765,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $467.07 on Monday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The company has a market cap of $109.94 billion, a PE ratio of 20.98, a P/E/G ratio of 2.07 and a beta of 0.43. The business has a 50-day simple moving average of $461.39 and a two-hundred day simple moving average of $518.19. Lockheed Martin Co. has a fifty-two week low of $419.70 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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%. As a group, equities analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company 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 2.83%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Analyst Upgrades and Downgrades

LMT has been the topic of a number of recent research reports. Barclays dropped their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. UBS Group dropped their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Truist Financial initiated coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. Royal Bank of Canada dropped their price target on 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, 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, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $554.20.

Insider Transactions at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction 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 trade represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the insider now owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock worth $3,155,916 over the last three months. 0.17% of the stock is currently owned by insiders.

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.