Cigna Investments Inc. New Has $1.08 Million Stake in Lockheed Martin Co. (NYSE:LMT)

Cigna Investments Inc. New trimmed its position in shares of Lockheed Martin Co. (NYSE:LMTFree Report) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,377 shares of the aerospace company’s stock after selling 42 shares during the quarter. Cigna Investments Inc. New’s holdings in Lockheed Martin were worth $1,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Herold Advisors Inc. lifted its holdings in shares of Lockheed Martin by 8.6% during the 3rd quarter. Herold Advisors Inc. now owns 3,448 shares of the aerospace company’s stock valued at $1,410,000 after buying an additional 274 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Lockheed Martin by 3.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,088 shares of the aerospace company’s stock worth $8,624,000 after buying an additional 770 shares during the last quarter. Alethea Capital Management LLC acquired a new position in shares of Lockheed Martin during the third quarter worth approximately $415,000. Meridian Wealth Management LLC lifted its holdings in shares of Lockheed Martin by 149.0% during the third quarter. Meridian Wealth Management LLC now owns 11,960 shares of the aerospace company’s stock worth $4,892,000 after buying an additional 7,156 shares during the last quarter. Finally, Central Bank & Trust Co. lifted its holdings in shares of Lockheed Martin by 1.6% during the third quarter. Central Bank & Trust Co. now owns 3,305 shares of the aerospace company’s stock worth $1,352,000 after buying an additional 51 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LMT has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft upped their target price on Lockheed Martin from $438.00 to $472.00 in a research note on Monday, January 22nd. Susquehanna lowered their price target on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating on the stock in a research report on Wednesday, January 24th. Citigroup lowered their price target on Lockheed Martin from $540.00 to $508.00 and set a “buy” rating on the stock in a research report on Wednesday, January 24th. Royal Bank of Canada lowered their price target on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 24th. Finally, UBS Group lowered their price target on Lockheed Martin from $488.00 to $475.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $491.92.

Read Our Latest Analysis on LMT

Lockheed Martin Price Performance

Shares of LMT stock traded up $1.15 during trading hours on Tuesday, hitting $453.94. 45,116 shares of the company’s stock were exchanged, compared to its average volume of 1,150,259. The stock’s 50-day moving average is $433.19 and its 200-day moving average is $439.30. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.21 and a quick ratio of 1.03. The stock has a market cap of $109.17 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 4.15 and a beta of 0.48. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $508.10.

Lockheed Martin (NYSE:LMTGet Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The aerospace company reported $7.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.26 by $0.64. The business had revenue of $18.87 billion for the quarter, compared to analysts’ expectations of $17.96 billion. Lockheed Martin had a return on equity of 79.91% and a net margin of 10.24%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business earned $7.79 earnings per share. As a group, research analysts forecast that Lockheed Martin Co. will post 26.13 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were issued a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend was Thursday, February 29th. Lockheed Martin’s dividend payout ratio is 45.74%.

Insider Activity at Lockheed Martin

In related news, insider Gregory M. Ulmer sold 6,204 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the transaction, the insider now owns 12,604 shares in the company, valued at $5,434,718.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gregory M. Ulmer sold 6,204 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total value of $2,675,102.76. Following the completion of the transaction, the insider now directly owns 12,604 shares in the company, valued at approximately $5,434,718.76. The disclosure for this sale can be found here. Insiders have sold a total of 16,874 shares of company stock worth $7,249,946 over the last 90 days. Insiders own 0.14% of the company’s stock.

Lockheed Martin Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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