Lockheed Martin Co. (NYSE:LMT) Stake Reduced by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,680 shares of the aerospace company’s stock after selling 42 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Lockheed Martin were worth $1,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in Lockheed Martin during the 3rd quarter worth $26,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin during the 4th quarter worth $35,000. Legacy Investment Solutions LLC acquired a new position in Lockheed Martin during the 3rd quarter worth $42,000. Sugar Maple Asset Management LLC acquired a new position in Lockheed Martin during the 4th quarter worth $47,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter valued at $52,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Down 5.7 %

Shares of Lockheed Martin stock opened at $440.26 on Friday. The stock has a 50-day moving average price of $460.94 and a 200 day moving average price of $514.87. The company has a market cap of $103.63 billion, a P/E ratio of 19.78, a P/E/G ratio of 2.07 and a beta of 0.43. 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 Co. has a 1 year low of $419.70 and a 1 year high of $618.95.

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

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 3.00%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Insider Buying and Selling

In other news, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the sale, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the sale, the insider now directly 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 ninety days, insiders sold 7,133 shares of company stock valued at $3,155,916. Corporate insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LMT shares. Barclays cut their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and cut their price objective for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. Royal Bank of Canada cut their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Susquehanna cut their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. Finally, Truist Financial started coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $554.20.

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.