Peapack Gladstone Financial Corp Reduces Stake in Lockheed Martin Co. (NYSE:LMT)

Peapack Gladstone Financial Corp decreased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,767 shares of the aerospace company’s stock after selling 106 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Lockheed Martin were worth $9,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of LMT. CFS Investment Advisory Services LLC grew its stake in shares of Lockheed Martin by 2.0% in the 4th quarter. CFS Investment Advisory Services LLC now owns 1,091 shares of the aerospace company’s stock valued at $530,000 after buying an additional 21 shares during the period. Wynn Capital LLC grew its position in Lockheed Martin by 1.0% in the fourth quarter. Wynn Capital LLC now owns 2,185 shares of the aerospace company’s stock worth $1,062,000 after acquiring an additional 22 shares during the period. PBMares Wealth Management LLC increased its stake in Lockheed Martin by 0.6% during the fourth quarter. PBMares Wealth Management LLC now owns 3,745 shares of the aerospace company’s stock worth $1,820,000 after acquiring an additional 22 shares during the last quarter. Nvwm LLC raised its position in Lockheed Martin by 2.5% in the fourth quarter. Nvwm LLC now owns 908 shares of the aerospace company’s stock valued at $441,000 after purchasing an additional 22 shares during the period. Finally, Schear Investment Advisers LLC lifted its stake in shares of Lockheed Martin by 2.0% in the 4th quarter. Schear Investment Advisers LLC now owns 1,147 shares of the aerospace company’s stock valued at $557,000 after purchasing an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

LMT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Susquehanna reduced their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. Melius Research cut shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and cut their target price for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Finally, StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $539.53.

Insider Transactions at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’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 owns 2,000 shares in the company, valued at $884,840. This trade represents a 61.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 shares were 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. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is currently owned by insiders.

Lockheed Martin Stock Down 4.9 %

Shares of NYSE:LMT opened at $432.72 on Monday. 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 fifty-two week low of $413.96 and a fifty-two week high of $618.95. The stock has a market cap of $101.50 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. The firm’s 50 day moving average price is $451.38 and its 200 day moving average price is $505.61.

Lockheed Martin (NYSE:LMT) last announced 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 net margin of 7.51% and a return on equity of 101.47%. As a group, equities research analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were issued a dividend of $3.30 per share. The ex-dividend date was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 3.05%. Lockheed Martin’s payout ratio is currently 59.30%.

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.