Texas Bank & Trust Co Invests $1.30 Million in Lockheed Martin Co. (NYSE:LMT)

Texas Bank & Trust Co purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,665 shares of the aerospace company’s stock, valued at approximately $1,295,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Lockheed Martin by 51.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock worth $4,630,000 after buying an additional 3,247 shares during the period. Brady Martz Wealth Solutions LLC purchased a new position in Lockheed Martin in the fourth quarter valued at $1,266,000. Aquatic Capital Management LLC purchased a new position in Lockheed Martin in the fourth quarter valued at $33,294,000. Private Advisor Group LLC boosted its holdings in Lockheed Martin by 11.0% in the fourth quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company’s stock valued at $24,906,000 after purchasing an additional 5,075 shares during the period. Finally, Confluence Wealth Services Inc. boosted its holdings in Lockheed Martin by 174.0% in the fourth quarter. Confluence Wealth Services Inc. now owns 3,176 shares of the aerospace company’s stock valued at $1,579,000 after purchasing an additional 2,017 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lockheed Martin 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 value of $312,925.27. Following the sale, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. The trade was a 23.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 shares were 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock valued at $3,155,916 over the last quarter. 0.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on LMT. Melius Research lowered Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Robert W. Baird upgraded Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 target price for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Jefferies Financial Group cut their price target on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Monday, April 28th. Finally, Royal Bank of Canada cut Lockheed Martin from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $541.80.

Lockheed Martin Stock Up 0.5%

LMT opened at $467.54 on Friday. The business’s 50-day simple moving average is $461.21 and its 200-day simple moving average is $479.58. 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 one year low of $418.88 and a one year high of $618.95. The stock has a market capitalization of $109.54 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. The business had revenue of $17.96 billion for the quarter, compared to analysts’ expectations of $17.83 billion. Analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd 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 2.82%. The ex-dividend date is Monday, June 2nd. Lockheed Martin’s dividend payout ratio is currently 57.02%.

Lockheed Martin Company 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.