Renasant Bank Buys 193 Shares of Lockheed Martin Co. (NYSE:LMT)

Renasant Bank boosted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 12.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,763 shares of the aerospace company’s stock after acquiring an additional 193 shares during the period. Renasant Bank’s holdings in Lockheed Martin were worth $857,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LMT. Assetmark Inc. grew its stake in Lockheed Martin by 1.3% during the third quarter. Assetmark Inc. now owns 1,470 shares of the aerospace company’s stock worth $859,000 after buying an additional 19 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Lockheed Martin during the 3rd quarter worth approximately $780,000. Empower Advisory Group LLC boosted its position in shares of Lockheed Martin by 9.1% during the 3rd quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock worth $12,870,000 after acquiring an additional 1,843 shares in the last quarter. Plato Investment Management Ltd increased its stake in Lockheed Martin by 65.7% in the third quarter. Plato Investment Management Ltd now owns 1,852 shares of the aerospace company’s stock valued at $1,082,000 after acquiring an additional 734 shares during the last quarter. Finally, ROI Financial Advisors LLC raised its position in Lockheed Martin by 8.9% during the third quarter. ROI Financial Advisors LLC now owns 3,037 shares of the aerospace company’s stock valued at $1,776,000 after purchasing an additional 247 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s 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 sale, the insider now owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin 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 completion of the sale, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is currently owned by insiders.

Lockheed Martin Trading Up 1.4 %

Shares of NYSE LMT opened at $467.90 on Friday. The stock has a market cap of $110.14 billion, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The firm has a 50 day moving average price of $461.68 and a two-hundred day moving average price of $519.43. 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 Co. has a 52-week low of $419.70 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT) last posted 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%. As a group, equities analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.82%. Lockheed Martin’s dividend payout ratio (DPR) is currently 59.30%.

Analyst Ratings Changes

Several brokerages have recently issued reports on LMT. Citigroup decreased their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Morgan Stanley decreased their target price on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Barclays reduced their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, Susquehanna lowered their price objective 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. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus 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.