Lockheed Martin Co. (NYSE:LMT) Stock Position Reduced by Clearbridge Investments LLC

Clearbridge Investments LLC trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,880 shares of the aerospace company’s stock after selling 1,358 shares during the quarter. Clearbridge Investments LLC’s holdings in Lockheed Martin were worth $33,472,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in LMT. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin during the third quarter worth $26,000. Millstone Evans Group LLC acquired a new stake in Lockheed Martin during the fourth quarter worth about $32,000. Mizuho Securities Co. Ltd. bought a new position in Lockheed Martin in the fourth quarter worth about $34,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin in the fourth quarter valued at approximately $35,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Lockheed Martin during the third quarter valued at approximately $42,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LMT has been the topic of several recent research reports. Susquehanna cut their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Truist Financial began coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective on the stock. Royal Bank of Canada lowered shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. Finally, Melius lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Lockheed Martin currently has an average rating of “Hold” and an average target price of $539.53.

Insider Activity at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction dated 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 in the company, valued at $884,840. This represents a 61.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction that occurred 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 $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 owned by corporate insiders.

Lockheed Martin Stock Performance

LMT opened at $448.39 on Wednesday. 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 $105.55 billion, a PE ratio of 20.14, a P/E/G ratio of 2.07 and a beta of 0.43. The business has a fifty day simple moving average of $454.45 and a 200-day simple moving average of $508.19. Lockheed Martin Co. has a fifty-two week low of $419.70 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating 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%. As a group, equities analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were issued a dividend of $3.30 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.94%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

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.