Lockheed Martin Co. (NYSE:LMT) Stock Position Lowered by Alley Investment Management Company LLC

Alley Investment Management Company LLC lessened its position in Lockheed Martin Co. (NYSE:LMT) by 10.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,460 shares of the aerospace company’s stock after selling 3,515 shares during the period. Lockheed Martin makes up 1.9% of Alley Investment Management Company LLC’s holdings, making the stock its 21st largest position. Alley Investment Management Company LLC’s holdings in Lockheed Martin were worth $15,288,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Lockheed Martin by 17.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after buying an additional 1,132,461 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Lockheed Martin by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock worth $2,816,898,000 after buying an additional 83,997 shares in the last quarter. FMR LLC raised its stake in shares of Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after buying an additional 209,591 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after buying an additional 240,306 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Lockheed Martin by 0.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company’s stock worth $847,361,000 after buying an additional 15,085 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’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 completion of the sale, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock worth $3,155,916 over the last 90 days. 0.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LMT has been the topic of a number of recent research reports. StockNews.com cut Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Wells Fargo & Company decreased their target price on Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Barclays decreased their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Morgan Stanley decreased their target price on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Finally, Truist Financial initiated coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $553.67.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $451.44 on Tuesday. The stock’s fifty day simple moving average is $465.09 and its 200-day simple moving average is $524.06. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 1-year low of $419.70 and a 1-year high of $618.95. The company has a market capitalization of $106.26 billion, a price-to-earnings ratio of 20.28, 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, 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%. On average, sell-side analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be paid 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 2.92%. Lockheed Martin’s dividend payout ratio (DPR) is currently 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.