OLD Point Trust & Financial Services N A Has $3.99 Million Position in Lockheed Martin Co. (NYSE:LMT)

OLD Point Trust & Financial Services N A trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,211 shares of the aerospace company’s stock after selling 318 shares during the period. Lockheed Martin makes up approximately 1.4% of OLD Point Trust & Financial Services N A’s holdings, making the stock its 24th largest holding. OLD Point Trust & Financial Services N A’s holdings in Lockheed Martin were worth $3,990,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Financial Bankshares Inc grew its stake in Lockheed Martin by 0.3% during the fourth quarter. First Financial Bankshares Inc now owns 112,049 shares of the aerospace company’s stock worth $54,449,000 after buying an additional 380 shares during the last quarter. GM Advisory Group LLC acquired a new position in shares of Lockheed Martin during the 4th quarter worth about $226,000. Stokes Family Office LLC raised its stake in Lockheed Martin by 132.3% during the 4th quarter. Stokes Family Office LLC now owns 1,663 shares of the aerospace company’s stock worth $808,000 after buying an additional 947 shares during the period. West Tower Group LLC acquired a new stake in Lockheed Martin during the 4th quarter worth approximately $437,000. Finally, FreeGulliver LLC raised its stake in shares of Lockheed Martin by 7.6% in the 4th quarter. FreeGulliver LLC now owns 497 shares of the aerospace company’s stock valued at $242,000 after purchasing an additional 35 shares during the period. Institutional investors own 74.19% of the company’s stock.

Insider Transactions at Lockheed Martin

In other news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the transaction, the vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction on 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 owns 2,000 shares in the company, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock worth $3,155,916 in the last quarter. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LMT shares. Royal Bank of Canada dropped their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Wells Fargo & Company reissued an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. Susquehanna lowered their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price target for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. Finally, UBS Group lowered their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $554.20.

Lockheed Martin Stock Up 0.2 %

Shares of NYSE:LMT opened at $470.44 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 12-month low of $419.70 and a 12-month high of $618.95. The business has a fifty day simple moving average of $461.54 and a 200 day simple moving average of $516.47. The firm has a market cap of $110.73 billion, a P/E ratio of 21.13, a P/E/G ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping 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%. Analysts predict 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 will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.81%. Lockheed Martin’s 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.