Morton Community Bank Raises Holdings in Lockheed Martin Co. (NYSE:LMT)

Morton Community Bank grew its position in shares of Lockheed Martin Co. (NYSE:LMT) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,943 shares of the aerospace company’s stock after purchasing an additional 50 shares during the quarter. Morton Community Bank’s holdings in Lockheed Martin were worth $3,860,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin during the third quarter worth about $26,000. Capital Performance Advisors LLP acquired a new stake in Lockheed Martin in the third quarter valued at about $40,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin in the fourth quarter valued at about $35,000. Legacy Investment Solutions LLC acquired a new stake in Lockheed Martin in the third quarter valued at about $42,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Lockheed Martin in the fourth quarter valued at about $47,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Up 2.8 %

Shares of LMT opened at $474.31 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The firm has a market cap of $111.65 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company’s fifty day moving average is $462.89 and its two-hundred day moving average is $521.36. Lockheed Martin Co. has a fifty-two week low of $419.70 and a fifty-two week high of $618.95.

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 net margin of 7.51% and a return on equity of 101.47%. Analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.78%. Lockheed Martin’s payout ratio is 59.30%.

Insider Activity at Lockheed Martin

In other news, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction 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 represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LMT shares. 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 target price for the company. UBS Group dropped their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. Susquehanna dropped their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, January 29th. Citigroup dropped their price objective 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. Finally, Royal Bank of Canada dropped their price objective on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $554.20.

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.