Robert M. Lightfoot, Jr. Sells 3,213 Shares of Lockheed Martin Co. (NYSE:LMT) Stock

Lockheed Martin Co. (NYSE:LMT) insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin 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 transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This 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 hyperlink.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $450.19 on Friday. The business has a fifty day simple moving average of $465.79 and a 200-day simple moving average of $525.34. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95. The company has a market cap of $105.97 billion, a P/E ratio of 20.22, a P/E/G ratio of 2.07 and a beta of 0.48. 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 (NYSE:LMT) last posted its quarterly earnings results 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 net margin of 7.51% and a return on equity of 101.47%. Equities research analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

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

Institutional Trading of Lockheed Martin

Institutional investors have recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in Lockheed Martin during the third quarter valued at approximately $26,000. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter worth $32,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Lockheed Martin in the 4th quarter valued at $34,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin during the 4th quarter valued at $35,000. Finally, Capital Performance Advisors LLP purchased a new stake in Lockheed Martin during the 3rd quarter worth $40,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LMT shares. Barclays cut their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Truist Financial started coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price for the company. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price target for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. Wells Fargo & Company dropped their price objective on shares of Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $553.67.

Lockheed Martin Company 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.