Chesapeake Capital Corp IL Lowers Holdings in Lockheed Martin Co. (NYSE:LMT)

Chesapeake Capital Corp IL lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 56.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 958 shares of the aerospace company’s stock after selling 1,228 shares during the period. Chesapeake Capital Corp IL’s holdings in Lockheed Martin were worth $466,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Lockheed Martin in the 3rd quarter worth $26,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin in the fourth quarter worth $35,000. Legacy Investment Solutions LLC purchased a new position in shares of Lockheed Martin during the 3rd quarter worth about $42,000. Sugar Maple Asset Management LLC purchased a new stake in Lockheed Martin in the 4th quarter worth about $47,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Lockheed Martin in the fourth quarter worth about $52,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. Truist Financial assumed coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. Susquehanna reduced their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. Finally, UBS Group decreased their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus target price of $554.20.

Lockheed Martin Stock Performance

Shares of NYSE LMT opened at $469.33 on Wednesday. The company has a market capitalization of $110.47 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company’s fifty day moving average price is $461.50 and its 200 day moving average price is $516.79. 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 1 year low of $419.70 and a 1 year 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, 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%. On average, research analysts predict that Lockheed Martin Co. will post 27.15 earnings per share 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 issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Insider Activity

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares in the company, valued at $884,840. This trade represents a 61.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 owns 2,278 shares in the company, valued at $1,008,265.58. This 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 worth $3,155,916 over the last ninety days. Corporate insiders own 0.14% of the company’s stock.

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.