Lockheed Martin Co. (NYSE:LMT) Shares Sold by Cypress Capital Group

Cypress Capital Group lowered its holdings in Lockheed Martin Co. (NYSE:LMT) by 2.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 32,791 shares of the aerospace company’s stock after selling 816 shares during the quarter. Lockheed Martin makes up 2.0% of Cypress Capital Group’s investment portfolio, making the stock its 10th largest position. Cypress Capital Group’s holdings in Lockheed Martin were worth $15,934,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LMT. Intact Investment Management Inc. acquired a new position in shares of Lockheed Martin during the 3rd quarter worth $70,000. Vestor Capital LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter worth $46,000. Quintet Private Bank Europe S.A. increased its position in Lockheed Martin by 14.9% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 200 shares of the aerospace company’s stock worth $117,000 after purchasing an additional 26 shares in the last quarter. Moloney Securities Asset Management LLC increased its position in Lockheed Martin by 2.9% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 6,485 shares of the aerospace company’s stock worth $3,791,000 after purchasing an additional 184 shares in the last quarter. Finally, ASB Consultores LLC purchased a new stake in Lockheed Martin during the 3rd quarter worth about $279,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on LMT. Wells Fargo & Company dropped their price objective on Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Morgan Stanley dropped their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Susquehanna dropped their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research report on Wednesday, January 29th. Truist Financial began coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective for the company. Finally, Citigroup dropped their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $553.67.

Lockheed Martin Stock Performance

NYSE LMT opened at $449.11 on Wednesday. The firm has a market capitalization of $105.71 billion, a P/E ratio of 20.18, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 1-year low of $419.70 and a 1-year high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The business’s 50-day simple moving average is $464.31 and its 200-day simple moving average is $523.28.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating 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%. Equities analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Insider Buying and Selling

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s 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 directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the business’s 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 $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,133 shares of company stock valued at $3,155,916. Corporate insiders own 0.17% of the company’s stock.

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.