Robert M. Lightfoot, Jr. Sells 3,213 Shares of Lockheed Martin Co. (NYSE:LMT) Stock

Lockheed Martin Co. (NYSE:LMT) insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s 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 sale, the insider now directly owns 2,000 shares of the company’s stock, 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 this link.

Lockheed Martin Stock Up 0.8 %

Lockheed Martin stock opened at $450.19 on Friday. Lockheed Martin Co. 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 quick ratio of 0.95 and a current ratio of 1.13. The company has a market capitalization of $105.97 billion, a P/E ratio of 20.22, a PEG ratio of 2.07 and a beta of 0.48. The stock has a 50-day simple moving average of $465.79 and a 200-day simple moving average of $525.10.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating 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 research analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.93%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Institutional Trading of Lockheed Martin

Several institutional investors and hedge funds have recently added to or reduced their stakes in LMT. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin during the 3rd quarter valued at approximately $26,000. Millstone Evans Group LLC purchased a new position in shares of Lockheed Martin during the 4th quarter worth approximately $32,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Lockheed Martin during the 4th quarter worth approximately $34,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin during the 4th quarter worth approximately $35,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Lockheed Martin during the 3rd quarter worth approximately $40,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on LMT shares. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and cut their target price for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. Truist Financial began coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. Citigroup decreased their target price on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Susquehanna decreased their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. Finally, Barclays decreased their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $553.67.

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.