Lockheed Martin Co. (NYSE:LMT) Short Interest Update

Lockheed Martin Co. (NYSE:LMT) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 2,620,000 shares, a decrease of 22.9% from the February 28th total of 3,400,000 shares. Based on an average daily volume of 1,610,000 shares, the short-interest ratio is presently 1.6 days. Currently, 1.1% of the shares of the stock are short sold.

Lockheed Martin Stock Up 0.7 %

LMT stock opened at $444.60 on Monday. Lockheed Martin has a 1-year low of $419.70 and a 1-year high of $618.95. The stock has a market cap of $104.65 billion, a P/E ratio of 19.84, a P/E/G ratio of 2.07 and a beta of 0.43. The stock’s fifty day simple moving average is $456.49 and its two-hundred day simple moving average is $509.90. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Analysts expect that Lockheed Martin will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were issued a $3.30 dividend. The ex-dividend date was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.97%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Analyst Ratings Changes

LMT has been the subject of several recent research reports. Bank of America cut Lockheed Martin from a “buy” rating to a “neutral” rating and decreased their price target for the company from $685.00 to $485.00 in a research note on Monday, March 24th. JPMorgan Chase & Co. lowered their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Barclays dropped their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company restated an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. Finally, Truist Financial assumed coverage on Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $539.53.

Insiders Place Their Bets

In related news, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction 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 sale, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value 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. The trade was a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock valued at $3,155,916 in the last 90 days. Corporate insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in shares of Lockheed Martin during the 3rd quarter worth $26,000. Millstone Evans Group LLC bought a new stake in Lockheed Martin during the 4th quarter valued at $32,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Lockheed Martin during the fourth quarter worth $34,000. Heck Capital Advisors LLC bought a new position in shares of Lockheed Martin in the fourth quarter worth $35,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Lockheed Martin in the third quarter valued at $42,000. 74.19% of the stock is owned by institutional investors.

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.