Flputnam Investment Management Co. Sells 18,622 Shares of Lockheed Martin Co. (NYSE:LMT)

Flputnam Investment Management Co. lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 64.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,179 shares of the aerospace company’s stock after selling 18,622 shares during the quarter. Flputnam Investment Management Co.’s holdings in Lockheed Martin were worth $4,946,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Virtue Capital Management LLC increased its position in shares of Lockheed Martin by 112.8% during the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after purchasing an additional 1,192 shares during the last quarter. Bank of Montreal Can grew its position in Lockheed Martin by 2.1% in the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after acquiring an additional 13,253 shares during the last quarter. Hilltop Holdings Inc. grew its position in Lockheed Martin by 79.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after acquiring an additional 5,361 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its position in Lockheed Martin by 51.7% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after acquiring an additional 3,247 shares during the last quarter. Finally, Capital Investment Advisors LLC grew its position in Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after acquiring an additional 2,011 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 0.8 %

Shares of NYSE LMT opened at $450.19 on Friday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a market capitalization of $105.97 billion, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. Lockheed Martin Co. has a 1-year low of $419.70 and a 1-year high of $618.95. The business has a fifty day moving average price of $465.79 and a 200 day moving average price of $525.10.

Lockheed Martin (NYSE:LMT) last issued 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%. Equities research analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a dividend of $3.30 per share. 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 dividend payout ratio is currently 59.30%.

Analysts Set New Price Targets

Several brokerages have commented on LMT. Royal Bank of Canada cut their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Wells Fargo & Company cut their price objective on Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Susquehanna cut their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. Truist Financial initiated coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective on the stock. Finally, Citigroup lowered their target price on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $553.67.

Insider Activity at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction dated 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 transaction, 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 in the last ninety days. Corporate 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.