Gallacher Capital Management LLC Trims Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Gallacher Capital Management LLC trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 6.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 791 shares of the aerospace company’s stock after selling 53 shares during the period. Gallacher Capital Management LLC’s holdings in Lockheed Martin were worth $384,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Patten & Patten Inc. TN lifted its holdings in shares of Lockheed Martin by 3.6% during the fourth quarter. Patten & Patten Inc. TN now owns 2,087 shares of the aerospace company’s stock valued at $1,014,000 after purchasing an additional 72 shares in the last quarter. Harbour Investments Inc. lifted its holdings in Lockheed Martin by 4.5% in the fourth quarter. Harbour Investments Inc. now owns 5,172 shares of the aerospace company’s stock valued at $2,513,000 after acquiring an additional 222 shares during the period. Pollock Investment Advisors LLC bought a new position in Lockheed Martin in the fourth quarter valued at about $1,765,000. CBIZ Investment Advisory Services LLC increased its position in Lockheed Martin by 75.6% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 158 shares of the aerospace company’s stock worth $77,000 after buying an additional 68 shares in the last quarter. Finally, one8zero8 LLC purchased a new stake in Lockheed Martin in the fourth quarter worth about $1,312,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 0.2 %

Lockheed Martin stock opened at $467.07 on Friday. The stock’s fifty day moving average is $461.39 and its two-hundred day moving average is $518.51. The stock has a market cap of $109.94 billion, a PE ratio of 20.98, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 1-year low of $419.70 and a 1-year high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

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, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, sell-side analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s payout ratio is currently 59.30%.

Insider Activity at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on Wednesday, February 26th. The stock was 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 directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’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 completion of the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Truist Financial assumed coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price for the company. Morgan Stanley lowered their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company reissued an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. Susquehanna decreased their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, January 29th. Finally, UBS Group decreased their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.