588 Shares in Lockheed Martin Co. (NYSE:LMT) Purchased by RiverFront Investment Group LLC

RiverFront Investment Group LLC bought a new stake in Lockheed Martin Co. (NYSE:LMT) during the 4th quarter, Holdings Channel.com reports. The firm bought 588 shares of the aerospace company’s stock, valued at approximately $286,000.

Other large investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in Lockheed Martin during the third quarter worth $26,000. Millstone Evans Group LLC bought a new stake in Lockheed Martin during the 4th quarter worth about $32,000. Mizuho Securities Co. Ltd. bought a new stake in Lockheed Martin during the 4th quarter worth about $34,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin during the 4th quarter worth about $35,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Lockheed Martin in the third quarter valued at about $42,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on LMT. Royal Bank of Canada cut Lockheed Martin from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $550.00 to $480.00 in a research report on Thursday. Morgan Stanley reduced their price target on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Truist Financial initiated coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective on the stock. Melius cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, StockNews.com raised shares of Lockheed Martin from a “hold” rating to a “buy” rating in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Lockheed Martin presently has an average rating of “Hold” and an average price target of $539.53.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were 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 of the company’s stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the company’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 transaction of $312,925.27. Following the completion of the transaction, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock valued at $3,155,916 over the last ninety days. 0.17% of the stock is owned by corporate insiders.

Lockheed Martin Stock Performance

LMT opened at $441.41 on Friday. The firm has a market cap of $103.90 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The business’s fifty day moving average is $456.49 and its 200-day moving average is $510.30. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95. 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 (NYSE:LMT) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Sell-side analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were given a dividend of $3.30 per share. The ex-dividend date was Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.99%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

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.