Argent Trust Co Trims Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Argent Trust Co reduced its position in Lockheed Martin Co. (NYSE:LMT) by 0.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 37,056 shares of the aerospace company’s stock after selling 41 shares during the quarter. Argent Trust Co’s holdings in Lockheed Martin were worth $18,007,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LMT. Arete Wealth Advisors LLC bought a new stake in shares of Lockheed Martin in the 3rd quarter worth approximately $1,840,000. Morse Asset Management Inc lifted its holdings in shares of Lockheed Martin by 1.0% in the 3rd quarter. Morse Asset Management Inc now owns 3,058 shares of the aerospace company’s stock worth $1,788,000 after acquiring an additional 31 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Lockheed Martin in the third quarter worth $447,000. Brophy Wealth Management LLC bought a new stake in Lockheed Martin during the 3rd quarter valued at $499,000. Finally, Chiron Investment Management LLC bought a new stake in Lockheed Martin during the 3rd quarter valued at $186,000. 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 Lockheed Martin stock in a transaction that occurred on 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on LMT shares. Melius lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Barclays cut their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Royal Bank of Canada downgraded Lockheed Martin from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $550.00 to $480.00 in a report on Thursday, March 27th. Bank of America downgraded shares of Lockheed Martin from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. lowered their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and an average target price of $536.60.

Lockheed Martin Trading Up 0.3 %

Lockheed Martin stock traded up $1.53 during mid-day trading on Thursday, hitting $463.77. The stock had a trading volume of 99,640 shares, compared to its average volume of 1,231,378. The stock has a 50-day simple moving average of $449.42 and a two-hundred day simple moving average of $502.21. The stock has a market capitalization of $108.79 billion, a PE ratio of 20.70, a P/E/G ratio of 2.07 and a beta of 0.39. Lockheed Martin Co. has a 12 month low of $418.88 and a 12 month high of $618.95. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last posted its quarterly 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 return on equity of 101.47% and a net margin of 7.51%. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were issued a dividend of $3.30 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.85%. Lockheed Martin’s dividend payout ratio (DPR) 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.