Insider Selling: Lockheed Martin Co. (NYSE:LMT) VP Sells 707 Shares of Stock

Lockheed Martin Co. (NYSE:LMT) VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction 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 directly owns 2,278 shares in the company, 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 legal filing with the SEC, which is available through the SEC website.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $450.19 on Friday. The company has a market cap of $105.97 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The company has a 50 day moving average of $465.79 and a 200-day moving average of $525.34. Lockheed Martin Co. has a 1-year low of $419.70 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping 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 fiscal year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s payout ratio is currently 59.30%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LMT. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their target price for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. Truist Financial assumed coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. UBS Group reduced their target price 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. StockNews.com cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Citigroup dropped their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $553.67.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Lmcg Investments LLC increased its holdings in Lockheed Martin by 3.0% during the third quarter. Lmcg Investments LLC now owns 651 shares of the aerospace company’s stock worth $381,000 after buying an additional 19 shares during the last quarter. Klingman & Associates LLC lifted its position in Lockheed Martin by 1.1% during the third quarter. Klingman & Associates LLC now owns 1,729 shares of the aerospace company’s stock valued at $1,011,000 after purchasing an additional 19 shares during the last quarter. Platform Technology Partners lifted its position in Lockheed Martin by 0.5% during the third quarter. Platform Technology Partners now owns 4,122 shares of the aerospace company’s stock valued at $2,409,000 after purchasing an additional 19 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Lockheed Martin by 1.3% in the 3rd quarter. Assetmark Inc. now owns 1,470 shares of the aerospace company’s stock worth $859,000 after acquiring an additional 19 shares during the last quarter. Finally, Vinva Investment Management Ltd lifted its holdings in shares of Lockheed Martin by 3.0% in the 3rd quarter. Vinva Investment Management Ltd now owns 656 shares of the aerospace company’s stock worth $382,000 after acquiring an additional 19 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

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.