First Financial Bankshares Inc Raises Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

First Financial Bankshares Inc grew its stake in Lockheed Martin Co. (NYSE:LMT) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,049 shares of the aerospace company’s stock after acquiring an additional 380 shares during the quarter. Lockheed Martin comprises approximately 1.2% of First Financial Bankshares Inc’s portfolio, making the stock its 29th biggest holding. First Financial Bankshares Inc’s holdings in Lockheed Martin were worth $54,449,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in LMT. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin during the third quarter worth about $26,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin during the fourth quarter worth about $35,000. Legacy Investment Solutions LLC purchased a new position in Lockheed Martin during the third quarter worth about $42,000. Sugar Maple Asset Management LLC acquired a new stake in Lockheed Martin during the fourth quarter worth about $47,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Lockheed Martin during the fourth quarter worth about $52,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on LMT. Wells Fargo & Company restated an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price target for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. Royal Bank of Canada dropped their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Truist Financial began coverage on Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target for the company. Finally, Citigroup lowered their target price on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $554.20.

Insiders Place Their Bets

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock valued at $3,155,916 in the last quarter. Insiders own 0.14% of the company’s stock.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $469.33 on Wednesday. Lockheed Martin Co. has a fifty-two week low of $419.70 and a fifty-two week high of $618.95. The business has a 50 day moving average price of $461.50 and a two-hundred day moving average price of $516.79. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The firm has a market cap of $110.47 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data 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 return on equity of 101.47% and a net margin of 7.51%. Sell-side analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 59.30%.

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.