Smithfield Trust Co Sells 442 Shares of Lockheed Martin Co. (NYSE:LMT)

Smithfield Trust Co cut its position in Lockheed Martin Co. (NYSE:LMT) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,268 shares of the aerospace company’s stock after selling 442 shares during the quarter. Smithfield Trust Co’s holdings in Lockheed Martin were worth $2,072,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. J.Safra Asset Management Corp grew its position in shares of Lockheed Martin by 79.7% in the 4th quarter. J.Safra Asset Management Corp now owns 602 shares of the aerospace company’s stock valued at $291,000 after acquiring an additional 267 shares during the period. Cookson Peirce & Co. Inc. bought a new position in Lockheed Martin during the fourth quarter worth about $237,000. Abbot Financial Management Inc. grew its holdings in Lockheed Martin by 1.9% during the fourth quarter. Abbot Financial Management Inc. now owns 6,147 shares of the aerospace company’s stock worth $2,987,000 after purchasing an additional 112 shares during the period. Triad Wealth Partners LLC acquired a new position in Lockheed Martin during the fourth quarter worth approximately $1,111,000. Finally, Glass Wealth Management Co LLC raised its stake in Lockheed Martin by 4.0% in the fourth quarter. Glass Wealth Management Co LLC now owns 10,201 shares of the aerospace company’s stock valued at $4,957,000 after buying an additional 395 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LMT shares. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Royal Bank of Canada decreased their price objective 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. JPMorgan Chase & Co. cut their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Citigroup reduced their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Finally, Barclays lowered their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $553.67.

Insider Transactions at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares of the company’s stock, 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 company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This trade represents 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 valued at $3,155,916. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Trading Down 0.6 %

Shares of NYSE:LMT opened at $449.11 on Wednesday. The business’s 50 day simple moving average is $464.31 and its 200 day simple moving average is $523.28. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The company has a market capitalization of $105.71 billion, a P/E ratio of 20.18, a P/E/G ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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, research analysts anticipate that Lockheed Martin Co. will post 27.15 EPS 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. Stockholders of record on Monday, March 3rd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is presently 59.30%.

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.