Synovus Financial Corp Has $27.82 Million Holdings in Lockheed Martin Co. (NYSE:LMT)

Synovus Financial Corp trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 10.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,224 shares of the aerospace company’s stock after selling 6,378 shares during the quarter. Synovus Financial Corp’s holdings in Lockheed Martin were worth $27,818,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Millstone Evans Group LLC bought a new position in shares of Lockheed Martin in the 4th quarter valued at approximately $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 acquired a new position in Lockheed Martin during the fourth quarter valued at approximately $35,000. Redwood Park Advisors LLC bought a new position in shares of Lockheed Martin in the fourth quarter valued at approximately $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Lockheed Martin in the fourth quarter worth $42,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Up 2.5 %

Shares of LMT opened at $475.11 on Friday. 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 company has a 50-day moving average price of $450.03 and a two-hundred day moving average price of $500.71. The stock has a market cap of $111.45 billion, a price-to-earnings ratio of 21.34, 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.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Equities analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is currently 59.30%.

Analyst Upgrades and Downgrades

LMT has been the topic of several recent analyst reports. Morgan Stanley dropped their target price on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. StockNews.com downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Barclays dropped their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Bank of America cut Lockheed Martin from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $685.00 to $485.00 in a research report on Monday, March 24th. Finally, UBS Group dropped their target price 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. One investment 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.com, the company presently has a consensus rating of “Hold” and an average target price of $536.60.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction 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 completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock valued at $3,155,916 in the last ninety days. Insiders own 0.17% of the company’s stock.

Lockheed Martin 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.