Cullen Frost Bankers Inc. Sells 562 Shares of Lockheed Martin Co. (NYSE:LMT)

Cullen Frost Bankers Inc. decreased its position in Lockheed Martin Co. (NYSE:LMT) by 1.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,546 shares of the aerospace company’s stock after selling 562 shares during the period. Cullen Frost Bankers Inc.’s holdings in Lockheed Martin were worth $13,845,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Lockheed Martin by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock valued at $9,120,920,000 after purchasing an additional 279,162 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Lockheed Martin by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,686,937 shares of the aerospace company’s stock valued at $2,302,388,000 after purchasing an additional 97,916 shares during the last quarter. Wellington Management Group LLP grew its stake in Lockheed Martin by 4.0% in the third quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock valued at $1,291,816,000 after purchasing an additional 121,358 shares in the last quarter. Northern Trust Corp increased its position in shares of Lockheed Martin by 4.0% during the 3rd quarter. Northern Trust Corp now owns 2,388,377 shares of the aerospace company’s stock worth $976,751,000 after purchasing an additional 91,109 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Lockheed Martin by 10,526.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock valued at $617,416,000 after buying an additional 1,349,409 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Insider Activity at Lockheed Martin

In related news, insider Gregory M. Ulmer sold 6,204 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the sale, the insider now owns 12,604 shares in the company, valued at approximately $5,434,718.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Gregory M. Ulmer sold 6,204 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the completion of the transaction, the insider now owns 12,604 shares of the company’s stock, valued at $5,434,718.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maryanne Lavan sold 4,022 shares of the company’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 sold a total of 16,874 shares of company stock valued at $7,249,946 over the last quarter. 0.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on LMT. The Goldman Sachs Group cut their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research note on Tuesday, April 23rd. Royal Bank of Canada reduced their price target on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a report on Wednesday, January 24th. Wells Fargo & Company upped their price objective on Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Finally, Morgan Stanley decreased their target price on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $485.40.

Lockheed Martin Stock Performance

NYSE LMT traded down $0.41 during trading on Wednesday, reaching $466.27. The company’s stock had a trading volume of 598,990 shares, compared to its average volume of 1,138,276. The firm has a 50 day moving average price of $448.81 and a 200 day moving average price of $445.66. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $479.50. The firm has a market capitalization of $111.88 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 4.23 and a beta of 0.46. The company has a current ratio of 1.30, a quick ratio of 1.11 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 business had revenue of $17.20 billion during the quarter, compared to analysts’ expectations of $16.04 billion. During the same period in the previous year, the company posted $6.43 earnings per share. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, equities analysts anticipate that Lockheed Martin Co. will post 26.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be paid a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Monday, June 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

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.