Sandy Spring Bank Sells 36 Shares of Lockheed Martin Co. (NYSE:LMT)

Sandy Spring Bank decreased its holdings in Lockheed Martin Co. (NYSE:LMT) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,644 shares of the aerospace company’s stock after selling 36 shares during the quarter. Sandy Spring Bank’s holdings in Lockheed Martin were worth $2,257,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Virtue Capital Management LLC raised its position in Lockheed Martin by 112.8% in the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after purchasing an additional 1,192 shares during the last quarter. Bank of Montreal Can raised its position in Lockheed Martin by 2.1% in the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after purchasing an additional 13,253 shares during the last quarter. Hilltop Holdings Inc. raised its position in 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 during the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its position in Lockheed Martin by 51.7% in 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. Finally, Capital Investment Advisors LLC raised its position in Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after purchasing an additional 2,011 shares during the last quarter. 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 company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. This represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock valued at $3,155,916 over the last three months. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LMT shares. Wells Fargo & Company restated an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. Barclays dropped their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. UBS Group dropped their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Truist Financial started coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price for the company. Finally, Royal Bank of Canada dropped their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $554.20.

Lockheed Martin Stock Down 0.9 %

NYSE:LMT opened at $466.48 on Friday. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year 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. The stock has a market cap of $109.80 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 2.07 and a beta of 0.43. The stock has a 50-day moving average price of $461.50 and a two-hundred day moving average price of $516.12.

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

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.83%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

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.