Korea Investment CORP Trims Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Korea Investment CORP reduced its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 15.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,964 shares of the aerospace company’s stock after selling 34,423 shares during the quarter. Korea Investment CORP owned about 0.08% of Lockheed Martin worth $88,424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of LMT. Virtue Capital Management LLC boosted its holdings in shares of Lockheed Martin by 112.8% in the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after acquiring an additional 1,192 shares during the period. Hilltop Holdings Inc. boosted its stake in Lockheed Martin by 79.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after purchasing an additional 5,361 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in Lockheed Martin by 51.7% during 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 buying an additional 3,247 shares in the last quarter. Capital Investment Advisors LLC increased its position in shares of Lockheed Martin by 2.2% during the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after buying an additional 2,011 shares during the period. Finally, Brady Martz Wealth Solutions LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth about $1,266,000. 74.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s 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 completion of the sale, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were 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 in the company, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. UBS Group dropped their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company restated an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. StockNews.com upgraded Lockheed Martin from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Truist Financial initiated coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of “Hold” and an average price target of $544.20.

Lockheed Martin Trading Up 0.6 %

Shares of LMT stock opened at $444.88 on Thursday. The business has a 50-day moving average of $458.36 and a 200 day moving average of $512.16. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. Lockheed Martin Co. has a 1-year low of $419.70 and a 1-year high of $618.95. The stock has a market capitalization of $104.72 billion, a PE ratio of 19.99, a P/E/G ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 yield of 2.97%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

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.