Nixon Peabody Trust Co. Purchases 80 Shares of Lockheed Martin Co. (NYSE:LMT)

Nixon Peabody Trust Co. raised its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 21.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 449 shares of the aerospace company’s stock after acquiring an additional 80 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Lockheed Martin were worth $218,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of LMT. abrdn plc lifted its holdings in shares of Lockheed Martin by 14.8% during the 3rd quarter. abrdn plc now owns 21,036 shares of the aerospace company’s stock valued at $12,240,000 after purchasing an additional 2,707 shares during the last quarter. Financial Advocates Investment Management lifted its holdings in shares of Lockheed Martin by 6.7% during the 3rd quarter. Financial Advocates Investment Management now owns 2,943 shares of the aerospace company’s stock valued at $1,720,000 after purchasing an additional 186 shares during the last quarter. LCM Capital Management Inc lifted its holdings in shares of Lockheed Martin by 0.7% during the 3rd quarter. LCM Capital Management Inc now owns 3,779 shares of the aerospace company’s stock valued at $2,209,000 after purchasing an additional 25 shares during the last quarter. Pacific Wealth Strategies Group Inc. lifted its holdings in shares of Lockheed Martin by 3.9% during the 3rd quarter. Pacific Wealth Strategies Group Inc. now owns 2,998 shares of the aerospace company’s stock valued at $1,753,000 after purchasing an additional 113 shares during the last quarter. Finally, Stephens Inc. AR lifted its holdings in shares of Lockheed Martin by 2.6% during the 3rd quarter. Stephens Inc. AR now owns 31,911 shares of the aerospace company’s stock valued at $18,654,000 after purchasing an additional 805 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LMT shares. Citigroup reduced their target price on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and reduced their target price for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. Morgan Stanley reduced their target price on 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. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. reduced their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. 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. According to data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and an average target price of $553.67.

Lockheed Martin Price Performance

NYSE:LMT opened at $450.19 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95. The stock has a market capitalization of $105.97 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The stock’s 50-day moving average price is $465.79 and its 200-day moving average price is $525.34.

Lockheed Martin (NYSE:LMT) last posted 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%. As a group, equities analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Insider Buying and Selling

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the transaction, the insider now directly owns 2,000 shares in the company, valued at $884,840. The trade was a 61.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the business’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 value of $312,925.27. Following the transaction, the vice president now owns 2,278 shares in the company, valued at approximately $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. In the last three months, insiders have sold 7,133 shares of company stock worth $3,155,916. Insiders own 0.17% of the company’s stock.

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.