CoreFirst Bank & Trust Takes Position in Lockheed Martin Co. (NYSE:LMT)

CoreFirst Bank & Trust purchased a new stake in Lockheed Martin Co. (NYSE:LMT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 243 shares of the aerospace company’s stock, valued at approximately $118,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Virtue Capital Management LLC lifted its stake in shares of Lockheed Martin by 112.8% in the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after purchasing an additional 1,192 shares during the period. Hilltop Holdings Inc. increased its holdings in Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after purchasing an additional 5,361 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in Lockheed Martin by 51.7% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after buying an additional 3,247 shares during the period. Capital Investment Advisors LLC boosted its holdings in Lockheed Martin by 2.2% during the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock worth $44,770,000 after buying an additional 2,011 shares during the last quarter. Finally, Brady Martz Wealth Solutions LLC acquired a new position in shares of Lockheed Martin during the 4th quarter worth about $1,266,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

Shares of LMT opened at $442.63 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a twelve month low of $419.70 and a twelve month high of $618.95. The stock has a market capitalization of $104.19 billion, a P/E ratio of 19.88, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a 50 day moving average of $459.13 and a 200-day moving average of $512.63.

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

Lockheed Martin Dividend Announcement

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 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 yield of 2.98%. Lockheed Martin’s payout ratio is presently 59.30%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. Melius cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday. Morgan Stanley lowered their price objective 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. JPMorgan Chase & Co. reduced their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Finally, Truist Financial began coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $544.20.

Insider Activity at Lockheed Martin

In other news, 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 $1,008,265.58. The trade was a 23.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’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 sale, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.17% of the company’s stock.

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.