Summit Investment Advisors Inc. Sells 61 Shares of Lockheed Martin Co. (NYSE:LMT)

Summit Investment Advisors Inc. reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 1.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,392 shares of the aerospace company’s stock after selling 61 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Lockheed Martin were worth $2,620,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in LMT. Millstone Evans Group LLC purchased a new position in Lockheed Martin during the 4th quarter worth $32,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Lockheed Martin during the fourth quarter valued at $34,000. Heck Capital Advisors LLC purchased a new stake in Lockheed Martin in the fourth quarter worth about $35,000. Redwood Park Advisors LLC purchased a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $40,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Lockheed Martin in the 4th quarter worth $42,000. 74.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction that occurred 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. This trade represents 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 worth $3,155,916. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Barclays dropped their price objective on 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. UBS Group cut their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Royal Bank of Canada cut shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Wells Fargo & Company cut their price target on shares of Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. 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 objective for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Lockheed Martin currently has an average rating of “Hold” and a consensus price target of $536.60.

Lockheed Martin Stock Up 0.1 %

LMT stock opened at $475.44 on Tuesday. The company has a market capitalization of $111.53 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. Lockheed Martin Co. has a 12 month low of $418.88 and a 12 month high of $618.95. The firm’s fifty day simple moving average is $450.55 and its 200-day simple moving average is $499.42. 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 posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS 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%. As a group, equities research analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s payout ratio is presently 59.30%.

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.