Lockheed Martin Co. (NYSE:LMT) Insider Robert M. Lightfoot, Jr. Sells 3,213 Shares of 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Lockheed Martin Trading Up 0.8 %

NYSE LMT opened at $450.19 on Friday. The stock has a 50-day moving average of $465.79 and a 200-day moving average of $525.34. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 1-year low of $419.70 and a 1-year high of $618.95. The firm has a market cap of $105.97 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (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%. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

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

Hedge Funds Weigh In On Lockheed Martin

A number of institutional investors have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new position in shares of Lockheed Martin during the 3rd quarter worth approximately $26,000. Millstone Evans Group LLC purchased a new stake in shares of Lockheed Martin in the 4th quarter worth about $32,000. Mizuho Securities Co. Ltd. purchased a new position in Lockheed Martin during the 4th quarter valued at about $34,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin during the fourth quarter valued at approximately $35,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Lockheed Martin in the 3rd quarter worth approximately $40,000. 74.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Barclays lowered their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Truist Financial started coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Wells Fargo & Company cut their price target on Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Morgan Stanley decreased their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have issued 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, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average price target 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.