Summit Investment Advisors Inc. Sells 61 Shares of Lockheed Martin Co. (NYSE:LMT)

Summit Investment Advisors Inc. lowered its stake in Lockheed Martin Co. (NYSE:LMT) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,392 shares of the aerospace company’s stock after selling 61 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Lockheed Martin were worth $2,620,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in LMT. Morse Asset Management Inc grew its stake in shares of Lockheed Martin by 1.0% during the 3rd quarter. Morse Asset Management Inc now owns 3,058 shares of the aerospace company’s stock valued at $1,788,000 after purchasing an additional 31 shares during the period. Tudor Financial Inc. bought a new stake in Lockheed Martin during the third quarter valued at approximately $557,000. Anchor Investment Management LLC increased its holdings in Lockheed Martin by 8.4% during the third quarter. Anchor Investment Management LLC now owns 4,125 shares of the aerospace company’s stock valued at $2,411,000 after buying an additional 320 shares during the last quarter. Fulcrum Equity Management raised its position in Lockheed Martin by 4.7% in the third quarter. Fulcrum Equity Management now owns 900 shares of the aerospace company’s stock worth $526,000 after acquiring an additional 40 shares during the period. Finally, Sculati Wealth Management LLC bought a new stake in shares of Lockheed Martin during the 3rd quarter valued at $258,000. Institutional investors own 74.19% of the company’s stock.

Insider Transactions at Lockheed Martin

In other news, 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 value of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This trade represents a 61.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the company’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 owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is currently owned by company insiders.

Lockheed Martin Trading Up 0.1 %

LMT stock opened at $475.44 on Tuesday. The firm has a fifty day moving average price of $450.55 and a 200 day moving average price of $499.42. Lockheed Martin Co. has a fifty-two week low of $418.88 and a fifty-two week high of $618.95. The firm has a market cap of $111.53 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. 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 (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping 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%. Sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group decreased their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Melius cut Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Truist Financial initiated coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price target for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. Finally, Bank of America downgraded shares of Lockheed Martin from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $685.00 to $485.00 in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $536.60.

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.