Washington Trust Bank Boosts Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Washington Trust Bank boosted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 57.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,630 shares of the aerospace company’s stock after buying an additional 593 shares during the period. Washington Trust Bank’s holdings in Lockheed Martin were worth $792,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of LMT. Itau Unibanco Holding S.A. acquired a new position in shares of Lockheed Martin during the 3rd quarter worth approximately $26,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin during the 4th quarter worth approximately $35,000. Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter worth approximately $42,000. Sugar Maple Asset Management LLC acquired a new position in shares of Lockheed Martin during the 4th quarter worth approximately $47,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Lockheed Martin during the 4th quarter worth approximately $52,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LMT shares. Truist Financial began coverage on Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. Barclays decreased their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. JPMorgan Chase & Co. decreased their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Finally, UBS Group decreased their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $554.20.

Lockheed Martin Stock Down 5.7 %

Shares of NYSE LMT opened at $440.26 on Friday. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95. The business’s 50 day moving average is $460.94 and its two-hundred day moving average is $515.23. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The firm has a market cap of $103.63 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Research analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Insider Transactions at Lockheed Martin

In related news, 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 transaction, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. This represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction 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 directly owns 2,278 shares in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.14% of the stock is currently owned by company insiders.

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.