FineMark National Bank & Trust Has $11.70 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

FineMark National Bank & Trust cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 2.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,065 shares of the aerospace company’s stock after selling 557 shares during the quarter. FineMark National Bank & Trust’s holdings in Lockheed Martin were worth $11,695,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of LMT. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin during the third quarter valued at approximately $26,000. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter valued at $32,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin during the 4th quarter valued at $35,000. Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin in the third quarter worth $42,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Lockheed Martin during the fourth quarter worth $42,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Activity at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin 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 completion of the transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction that occurred 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 directly owns 2,000 shares in the company, valued at $884,840. The trade was a 61.63 % decrease in their ownership of the stock. 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. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LMT has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and lowered their target price for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. Citigroup reduced their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. UBS Group dropped their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley reduced their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Finally, Susquehanna lowered their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $544.20.

Lockheed Martin Price Performance

NYSE:LMT opened at $434.72 on Tuesday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a market cap of $102.33 billion, a P/E ratio of 19.53, a PEG ratio of 2.07 and a beta of 0.43. The company has a fifty day moving average price of $459.96 and a 200 day moving average price of $513.50. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last released 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 net margin of 7.51% and a return on equity of 101.47%. Analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

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. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 59.30%.

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.