Simmons Bank Boosts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Simmons Bank increased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,896 shares of the aerospace company’s stock after buying an additional 38 shares during the period. Simmons Bank’s holdings in Lockheed Martin were worth $5,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Triumph Capital Management grew its stake in Lockheed Martin by 3.1% during the 3rd quarter. Triumph Capital Management now owns 723 shares of the aerospace company’s stock valued at $296,000 after purchasing an additional 22 shares in the last quarter. Abbrea Capital LLC grew its position in shares of Lockheed Martin by 1.7% during the third quarter. Abbrea Capital LLC now owns 1,397 shares of the aerospace company’s stock worth $571,000 after buying an additional 23 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its stake in shares of Lockheed Martin by 1.6% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,429 shares of the aerospace company’s stock worth $584,000 after buying an additional 23 shares during the last quarter. Duncker Streett & Co. Inc. raised its holdings in Lockheed Martin by 1.2% in the third quarter. Duncker Streett & Co. Inc. now owns 2,013 shares of the aerospace company’s stock valued at $823,000 after acquiring an additional 24 shares in the last quarter. Finally, Norris Perne & French LLP MI lifted its holdings in Lockheed Martin by 2.8% during the 4th quarter. Norris Perne & French LLP MI now owns 905 shares of the aerospace company’s stock worth $410,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on LMT shares. Citigroup upped their price target on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group decreased their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a report on Tuesday, April 23rd. JPMorgan Chase & Co. upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $475.00 to $518.00 in a research note on Monday, April 15th. Wells Fargo & Company lifted their target price on Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Finally, Susquehanna dropped their price target on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating on the stock in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $485.40.

Lockheed Martin Price Performance

LMT stock traded up $0.24 during trading on Wednesday, hitting $466.92. The company had a trading volume of 335,202 shares, compared to its average volume of 1,134,915. The business has a 50 day moving average of $448.81 and a 200 day moving average of $445.66. The firm has a market capitalization of $112.03 billion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 4.23 and a beta of 0.46. The company has a current ratio of 1.30, a quick ratio of 1.11 and a debt-to-equity ratio of 2.89. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $479.50.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The company had revenue of $17.20 billion during the quarter, compared to analyst estimates of $16.04 billion. During the same period in the prior year, the business posted $6.43 EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, research analysts predict that Lockheed Martin Co. will post 26.15 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, June 28th. Stockholders of record on Monday, June 3rd will be issued a $3.15 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.70%. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Insider Activity at Lockheed Martin

In related news, COO John Frank A. St sold 6,648 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $425.35, for a total value of $2,827,726.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction on Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gregory M. Ulmer sold 6,204 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total value of $2,675,102.76. Following the sale, the insider now directly owns 12,604 shares of the company’s stock, valued at $5,434,718.76. The disclosure for this sale can be found here. Insiders sold 16,874 shares of company stock valued at $7,249,946 over the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

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.