Lockheed Martin Co. (NYSE:LMT) Shares Sold by SouthState Corp

SouthState Corp lowered its position in shares of Lockheed Martin Co. (NYSE:LMT) by 1.3% during the fourth quarter, Holdings Channel reports. The fund owned 2,275 shares of the aerospace company’s stock after selling 30 shares during the quarter. SouthState Corp’s holdings in Lockheed Martin were worth $1,031,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in shares of Lockheed Martin by 10,526.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock worth $617,416,000 after purchasing an additional 1,349,409 shares during the last quarter. Vanguard Group Inc. boosted its stake in Lockheed Martin by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock worth $9,120,920,000 after buying an additional 279,162 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Lockheed Martin by 28.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 707,696 shares of the aerospace company’s stock valued at $289,419,000 after buying an additional 156,842 shares during the period. Wellington Management Group LLP increased its stake in shares of Lockheed Martin by 4.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock valued at $1,291,816,000 after acquiring an additional 121,358 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Lockheed Martin by 32.4% during the 3rd quarter. AQR Capital Management LLC now owns 449,167 shares of the aerospace company’s stock worth $183,691,000 after acquiring an additional 110,021 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $425.35, for a total transaction of $2,827,726.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction on Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maryanne Lavan sold 4,022 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The disclosure for this sale can be found here. Insiders have sold a total of 16,874 shares of company stock valued at $7,249,946 in the last three months. 0.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on LMT shares. Morgan Stanley cut their target price on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. Citigroup raised their price objective on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Susquehanna decreased their target price on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a report on Wednesday, January 24th. The Goldman Sachs Group cut their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a report on Tuesday, April 23rd. Finally, UBS Group boosted their price objective on shares of Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $485.40.

Lockheed Martin Stock Performance

LMT stock traded down $1.25 during trading on Friday, reaching $461.95. 910,767 shares of the company’s stock were exchanged, compared to its average volume of 1,153,347. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $479.50. The firm has a market cap of $110.84 billion, a PE ratio of 16.90, a P/E/G ratio of 4.22 and a beta of 0.46. The company’s fifty day moving average price is $446.80 and its 200-day moving average price is $445.23. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The company had revenue of $17.20 billion for the quarter, compared to analysts’ expectations of $16.04 billion. During the same period last year, the firm earned $6.43 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, research analysts expect that Lockheed Martin Co. will post 26.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be given a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a yield of 2.73%. Lockheed Martin’s payout ratio is 46.10%.

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.