Lockheed Martin Co. (NYSE:LMT) Shares Acquired by SlateStone Wealth LLC

SlateStone Wealth LLC boosted its position in Lockheed Martin Co. (NYSE:LMT) by 2.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,314 shares of the aerospace company’s stock after purchasing an additional 409 shares during the quarter. SlateStone Wealth LLC’s holdings in Lockheed Martin were worth $8,414,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price objective for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. Morgan Stanley dropped their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Citigroup dropped their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Wells Fargo & Company reissued an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. Finally, Truist Financial began 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 for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $554.20.

Lockheed Martin Stock Performance

Shares of LMT opened at $467.07 on Friday. The business’s fifty day moving average price is $461.39 and its 200 day moving average price is $518.51. Lockheed Martin Co. has a 12-month low of $419.70 and a 12-month high of $618.95. The stock has a market capitalization of $109.94 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) 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%. Equities research analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Insiders Place Their Bets

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction 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 sale, the insider now directly owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock valued at $3,155,916 over the last three months. Company insiders own 0.17% 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.