Bridges Investment Management Inc. Trims Position in Lockheed Martin Co. (NYSE:LMT)

Bridges Investment Management Inc. trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,576 shares of the aerospace company’s stock after selling 362 shares during the period. Bridges Investment Management Inc.’s holdings in Lockheed Martin were worth $18,746,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin during the third quarter valued at approximately $26,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin during the 4th quarter worth $35,000. Capital Performance Advisors LLP bought a new stake in shares of Lockheed Martin during the 3rd quarter valued at $40,000. Legacy Investment Solutions LLC bought a new position in Lockheed Martin in the 3rd quarter worth $42,000. Finally, Vestor Capital LLC bought a new position in Lockheed Martin in the 3rd quarter worth $46,000. 74.19% of the stock is currently owned by institutional investors.

Insider Activity at Lockheed Martin

In other news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the sale, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction dated 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 directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

LMT has been the subject of several recent research reports. Susquehanna cut their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. Truist Financial assumed coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. Wells Fargo & Company dropped their price target on shares of Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $553.67.

Lockheed Martin Stock Performance

NYSE LMT opened at $450.19 on Friday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. Lockheed Martin Co. has a 1-year low of $419.70 and a 1-year high of $618.95. The business has a 50 day simple moving average of $465.79 and a two-hundred day simple moving average of $525.10. The stock has a market capitalization of $105.97 billion, a PE ratio of 20.22, a P/E/G ratio of 2.07 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last posted its earnings results 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 net margin of 7.51% and a return on equity of 101.47%. On average, research analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

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