Lockheed Martin Co. (NYSE:LMT) Sees Large Drop in Short Interest

Lockheed Martin Co. (NYSE:LMT) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 2,620,000 shares, a decrease of 22.9% from the February 28th total of 3,400,000 shares. Based on an average daily volume of 1,610,000 shares, the short-interest ratio is presently 1.6 days. Currently, 1.1% of the company’s stock are sold short.

Wall Street Analyst Weigh In

LMT has been the subject of a number of recent analyst reports. Truist Financial began coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. Barclays decreased their price objective 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. Wells Fargo & Company restated an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. Finally, Citigroup decreased their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of “Hold” and a consensus target price of $539.53.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $444.60 on Monday. The stock has a market capitalization of $104.65 billion, a PE ratio of 19.84, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin has a fifty-two week low of $419.70 and a fifty-two week 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 business has a fifty day moving average price of $456.49 and a two-hundred day moving average price of $509.90.

Lockheed Martin (NYSE:LMT) last posted its quarterly 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%. As a group, equities analysts predict that Lockheed Martin will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were given a dividend of $3.30 per share. The ex-dividend date was Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.97%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Insider Activity at Lockheed Martin

In other news, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction 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. This trade represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Lockheed Martin

Large investors have recently modified their holdings of the business. Virtue Capital Management LLC boosted its stake in Lockheed Martin by 112.8% in the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after buying an additional 1,192 shares in the last quarter. Hilltop Holdings Inc. boosted its stake in shares of Lockheed Martin by 79.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after purchasing an additional 5,361 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of Lockheed Martin by 51.7% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after purchasing an additional 3,247 shares during the last quarter. Capital Investment Advisors LLC increased its position in Lockheed Martin by 2.2% during the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock worth $44,770,000 after purchasing an additional 2,011 shares in the last quarter. Finally, Brady Martz Wealth Solutions LLC bought a new position in Lockheed Martin in the 4th quarter valued at approximately $1,266,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

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.