Allstate Corp Takes $3.09 Million Position in Lockheed Martin Co. (NYSE:LMT)

Allstate Corp bought a new position in Lockheed Martin Co. (NYSE:LMT) during the 4th quarter, Holdings Channel reports. The institutional investor bought 6,359 shares of the aerospace company’s stock, valued at approximately $3,090,000.

A number of other hedge funds and 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 third quarter valued at approximately $26,000. Millstone Evans Group LLC acquired a new position in shares of Lockheed Martin during the 4th quarter valued at $32,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Lockheed Martin during the 4th quarter valued at $34,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth about $35,000. Finally, Legacy Investment Solutions LLC purchased a new position in Lockheed Martin in the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of 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 report on Thursday, January 2nd. Bank of America cut Lockheed Martin from a “buy” rating to a “neutral” rating and cut their price target for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Susquehanna decreased their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research report on Wednesday, January 29th. Melius Research lowered shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Royal Bank of Canada lowered Lockheed Martin from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $550.00 to $480.00 in a report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Lockheed Martin has an average rating of “Hold” and a consensus price target of $539.53.

Insider Buying and Selling at Lockheed Martin

In other news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin 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 approximately $1,008,265.58. This trade represents a 23.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction 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 approximately $884,840. This trade represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,133 shares of company stock valued at $3,155,916. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Down 0.2 %

Lockheed Martin stock opened at $441.41 on Friday. The firm has a market capitalization of $103.90 billion, a P/E ratio of 19.83, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a 50-day simple moving average of $456.49 and a 200-day simple moving average of $510.30. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT) last issued 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, equities analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were given a $3.30 dividend. The ex-dividend date was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.99%. Lockheed Martin’s dividend 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.