Huntington National Bank Purchases 4,829 Shares of Lockheed Martin Co. (NYSE:LMT)

Huntington National Bank raised its holdings in Lockheed Martin Co. (NYSE:LMT) by 3.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 149,579 shares of the aerospace company’s stock after purchasing an additional 4,829 shares during the period. Huntington National Bank’s holdings in Lockheed Martin were worth $72,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in Lockheed Martin in the third quarter worth $26,000. Millstone Evans Group LLC bought a new stake in shares of Lockheed Martin in the fourth quarter worth $32,000. Mizuho Securities Co. Ltd. acquired a new position in Lockheed Martin during the fourth quarter valued at approximately $34,000. Heck Capital Advisors LLC bought a new position in shares of Lockheed Martin in the 4th quarter valued at about $35,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter worth approximately $42,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’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 transaction, the insider now directly owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 transaction, the vice president now directly owns 2,278 shares of the company’s stock, 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. Insiders sold a total of 7,133 shares of company stock worth $3,155,916 in the last quarter. 0.17% of the stock is owned by company insiders.

Lockheed Martin Stock Up 0.4 %

Lockheed Martin stock opened at $448.39 on Wednesday. The firm’s 50-day simple moving average is $454.45 and its 200 day simple moving average is $508.19. 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 fifty-two week low of $419.70 and a fifty-two week high of $618.95. The stock has a market cap of $105.55 billion, a PE ratio of 20.14, a price-to-earnings-growth 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 for the quarter, beating 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%. Research analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were paid a $3.30 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.94%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company reissued an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. Melius cut Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. StockNews.com cut Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Finally, Citigroup reduced their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Lockheed Martin has an average rating of “Hold” and an average target price of $539.53.

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.