Peapack Gladstone Financial Corp Lowers Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Peapack Gladstone Financial Corp lowered its stake in Lockheed Martin Co. (NYSE:LMT) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,767 shares of the aerospace company’s stock after selling 106 shares during the period. Peapack Gladstone Financial Corp’s holdings in Lockheed Martin were worth $9,119,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LMT. Millstone Evans Group LLC purchased a new position in Lockheed Martin during the 4th quarter worth $32,000. Mizuho Securities Co. Ltd. purchased a new position in Lockheed Martin during the fourth quarter worth about $34,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin in the fourth quarter valued at about $35,000. Legacy Investment Solutions LLC purchased a new stake in Lockheed Martin in the 3rd quarter valued at approximately $42,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in Lockheed Martin during the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Activity

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the firm’s 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 sale, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin 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 sale, the insider now 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 worth $3,155,916 over the last 90 days. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $432.72 on Monday. The stock has a market capitalization of $101.50 billion, a P/E ratio of 19.44, a PEG ratio of 2.07 and a beta of 0.39. 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 business’s fifty day moving average price is $451.38 and its 200 day moving average price is $505.61. Lockheed Martin Co. has a twelve month low of $413.96 and a twelve month high of $618.95.

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

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Truist Financial began coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. Melius downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Melius Research cut shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, Susquehanna decreased their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $539.53.

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.