Lockheed Martin Co. (NYSE:LMT) Shares Sold by Vestcor Inc

Vestcor Inc cut its stake in Lockheed Martin Co. (NYSE:LMT) by 16.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,316 shares of the aerospace company’s stock after selling 2,997 shares during the period. Vestcor Inc’s holdings in Lockheed Martin were worth $7,443,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Lockheed Martin during the 4th quarter worth approximately $10,667,000. Rakuten Securities Inc. raised its position in Lockheed Martin by 35.5% during the 4th quarter. Rakuten Securities Inc. now owns 248 shares of the aerospace company’s stock worth $121,000 after buying an additional 65 shares during the last quarter. Essential Planning LLC. purchased a new position in Lockheed Martin during the 4th quarter worth approximately $1,042,000. Truvestments Capital LLC raised its position in Lockheed Martin by 5.5% during the 4th quarter. Truvestments Capital LLC now owns 6,457 shares of the aerospace company’s stock worth $3,138,000 after buying an additional 339 shares during the last quarter. Finally, Hopwood Financial Services Inc. purchased a new position in Lockheed Martin during the 4th quarter worth approximately $476,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $461.47 on Thursday. The company’s fifty day moving average price is $461.97 and its 200 day moving average price is $519.79. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95. The stock has a market capitalization of $108.62 billion, a P/E ratio of 20.73, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating 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, equities research analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.86%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of recent research reports. Morgan Stanley reduced their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. UBS Group reduced their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Truist Financial began coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price for the company. StockNews.com lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Royal Bank of Canada cut their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $554.20.

Insiders Place Their Bets

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction on 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 owns 2,000 shares of the company’s stock, valued at $884,840. The trade was a 61.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock valued at $3,155,916 in the last 90 days. 0.17% of the stock is owned by insiders.

Lockheed Martin Company 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.