Lockheed Martin Co. (NYSE:LMT) Shares Sold by Westchester Capital Management Inc.

Westchester Capital Management Inc. decreased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,014 shares of the aerospace company’s stock after selling 693 shares during the period. Lockheed Martin comprises about 3.8% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 11th biggest holding. Westchester Capital Management Inc.’s holdings in Lockheed Martin were worth $15,071,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin in the 3rd quarter worth about $26,000. Heck Capital Advisors LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at about $35,000. Legacy Investment Solutions LLC purchased a new stake in Lockheed Martin during the third quarter valued at about $42,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth approximately $47,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth approximately $52,000. 74.19% of the stock is currently owned by institutional investors.

Insider Transactions 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 that occurred 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 sale, the insider now owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 value of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. UBS Group cut their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and cut their price objective for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Truist Financial assumed coverage on Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a report on Monday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of 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 investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $554.20.

Lockheed Martin Price Performance

Shares of LMT stock opened at $469.40 on Wednesday. The stock has a 50-day moving average price of $462.46 and a 200 day moving average price of $520.20. 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 $110.49 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 12 month low of $419.70 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping 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%. Research analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business 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 dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.81%. Lockheed Martin’s 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.