Umpqua Bank Sells 153 Shares of Lockheed Martin Co. (NYSE:LMT)

Umpqua Bank lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 8.8% in the 4th quarter, HoldingsChannel reports. The fund owned 1,584 shares of the aerospace company’s stock after selling 153 shares during the quarter. Umpqua Bank’s holdings in Lockheed Martin were worth $767,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in Lockheed Martin by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after purchasing an additional 1,132,461 shares during the period. Geode Capital Management LLC lifted its position in shares of Lockheed Martin by 1.8% in the third quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock worth $2,816,898,000 after purchasing an additional 83,997 shares in the last quarter. FMR LLC lifted its position in shares of Lockheed Martin by 6.6% in the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Lockheed Martin by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company’s stock worth $847,361,000 after buying an additional 15,085 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Price Performance

LMT opened at $440.26 on Friday. The business has a fifty day moving average of $460.94 and a 200 day moving average of $515.23. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The stock has a market cap of $103.63 billion, a P/E ratio of 19.78, a PEG ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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, sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is currently 59.30%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price objective for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. Royal Bank of Canada reduced their price objective on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. Finally, StockNews.com cut Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $554.20.

Insider Buying and Selling

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 transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. This represents a 61.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Harry Edward Paul III sold 707 shares of the 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 directly owns 2,278 shares in the company, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock worth $3,155,916 in the last three months. 0.14% of the stock is owned by insiders.

About Lockheed Martin

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.