Rhumbline Advisers Trims Holdings in Lockheed Martin Co. (NYSE:LMT)

Rhumbline Advisers cut its position in shares of Lockheed Martin Co. (NYSE:LMT) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 387,643 shares of the aerospace company’s stock after selling 320 shares during the quarter. Rhumbline Advisers owned approximately 0.16% of Lockheed Martin worth $188,371,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LMT. WASHINGTON TRUST Co grew its stake in Lockheed Martin by 0.5% in the 4th quarter. WASHINGTON TRUST Co now owns 31,103 shares of the aerospace company’s stock worth $15,114,000 after acquiring an additional 156 shares during the period. PUREfi Wealth LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter worth $233,000. Quadrant Private Wealth Management LLC grew its position in shares of Lockheed Martin by 3.2% in the fourth quarter. Quadrant Private Wealth Management LLC now owns 3,272 shares of the aerospace company’s stock valued at $1,590,000 after purchasing an additional 101 shares during the period. Blue Trust Inc. increased its stake in Lockheed Martin by 28.8% in the fourth quarter. Blue Trust Inc. now owns 9,934 shares of the aerospace company’s stock valued at $4,827,000 after purchasing an additional 2,222 shares during the last quarter. Finally, Roman Butler Fullerton & Co. purchased a new position in Lockheed Martin during the fourth quarter worth about $269,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Price Performance

LMT stock opened at $423.15 on Friday. The firm has a market cap of $99.60 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 2.12 and a beta of 0.48. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. Lockheed Martin Co. has a 1 year low of $418.58 and a 1 year high of $618.95. The stock has a 50-day simple moving average of $478.88 and a 200-day simple moving average of $533.59.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts predict that Lockheed Martin Co. will post 27.14 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 3.12%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Analysts Set New Price Targets

Several research firms have commented on LMT. Susquehanna lowered their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. 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 target price for the company. Royal Bank of Canada decreased their price target on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. TD Cowen boosted their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird increased their target price on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus target price of $555.60.

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.