RNC Capital Management LLC Sells 1,754 Shares of Lockheed Martin Co. (NYSE:LMT)

RNC Capital Management LLC lowered its position in shares of Lockheed Martin Co. (NYSE:LMT) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,670 shares of the aerospace company’s stock after selling 1,754 shares during the period. Lockheed Martin accounts for approximately 2.7% of RNC Capital Management LLC’s investment portfolio, making the stock its 16th biggest holding. RNC Capital Management LLC’s holdings in Lockheed Martin were worth $44,721,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich increased its stake in Lockheed Martin by 73.0% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 64 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 27 shares during the period. CGC Financial Services LLC bought a new position in Lockheed Martin during the 2nd quarter worth $31,000. Coppell Advisory Solutions Corp. bought a new position in Lockheed Martin during the 4th quarter worth $31,000. Milestone Investment Advisors LLC bought a new position in Lockheed Martin during the 3rd quarter worth $33,000. Finally, Providence Capital Advisors LLC bought a new position in Lockheed Martin during the 3rd quarter worth $35,000. Institutional investors own 74.19% of the company’s stock.

Insiders Place Their Bets

In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $425.35, for a total transaction of $2,827,726.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Lockheed Martin news, insider Gregory M. Ulmer sold 6,204 shares of Lockheed Martin stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the transaction, the insider now directly owns 12,604 shares of the company’s stock, valued at approximately $5,434,718.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,874 shares of company stock valued at $7,249,946. 0.17% of the stock is currently owned by company insiders.

Lockheed Martin Trading Up 2.5 %

NYSE LMT opened at $456.93 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 2.53. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $508.10. The company has a market cap of $109.89 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 4.08 and a beta of 0.48. The business’s fifty day moving average is $433.46 and its 200 day moving average is $438.35.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, January 23rd. The aerospace company reported $7.90 earnings per share for the quarter, beating the consensus estimate of $7.26 by $0.64. Lockheed Martin had a return on equity of 79.91% and a net margin of 10.24%. The company had revenue of $18.87 billion for the quarter, compared to the consensus estimate of $17.96 billion. During the same quarter last year, the business posted $7.79 EPS. Lockheed Martin’s revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts expect that Lockheed Martin Co. will post 26.13 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 1st will be issued a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a yield of 2.76%. The ex-dividend date is Thursday, February 29th. Lockheed Martin’s payout ratio is presently 45.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. UBS Group lowered their price objective on Lockheed Martin from $488.00 to $475.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Royal Bank of Canada lowered their price objective on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 24th. Morgan Stanley reduced their target price on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. Susquehanna reduced their target price on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating on the stock in a report on Wednesday, January 24th. Finally, Citigroup reduced their target price on Lockheed Martin from $540.00 to $508.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin presently has an average rating of “Hold” and a consensus target price of $491.92.

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.