iA Global Asset Management Inc. Sells 1,612 Shares of Lockheed Martin Co. (NYSE:LMT)

iA Global Asset Management Inc. lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 34.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,047 shares of the aerospace company’s stock after selling 1,612 shares during the quarter. iA Global Asset Management Inc.’s holdings in Lockheed Martin were worth $1,481,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin in the 3rd quarter valued at $26,000. Heck Capital Advisors LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at $35,000. Legacy Investment Solutions LLC acquired a new stake in shares of Lockheed Martin in the 3rd quarter valued at $42,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at $47,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at $52,000. Institutional investors own 74.19% of the company’s stock.

Insider Activity

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value 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 sold a total of 7,133 shares of company stock worth $3,155,916 over the last quarter. 0.14% of the stock is currently owned by corporate insiders.

Lockheed Martin Price Performance

Shares of LMT opened at $440.26 on Friday. 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. The company has a market capitalization of $103.63 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The business has a 50-day moving average of $460.94 and a 200-day moving average of $515.23.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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%. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders 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 3.00%. Lockheed Martin’s dividend payout ratio is 59.30%.

Analysts Set New Price Targets

Several brokerages have recently commented on LMT. Susquehanna reduced their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. Truist Financial began coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. StockNews.com downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Morgan Stanley reduced their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average 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.