Harry Edward Paul III Sells 707 Shares of Lockheed Martin Co. (NYSE:LMT) Stock

Lockheed Martin Co. (NYSE:LMT) VP Harry Edward Paul III sold 707 shares of the firm’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 directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Lockheed Martin Trading Up 0.8 %

NYSE LMT opened at $450.19 on Friday. The stock has a market capitalization of $105.97 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 2.07 and a beta of 0.48. The business’s fifty day moving average is $465.79 and its 200-day moving average is $525.34. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last released its earnings results 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%. Equities research analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.93%. Lockheed Martin’s payout ratio is presently 59.30%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. abrdn plc raised its position in shares of Lockheed Martin by 14.8% in the third quarter. abrdn plc now owns 21,036 shares of the aerospace company’s stock valued at $12,240,000 after purchasing an additional 2,707 shares during the period. Financial Advocates Investment Management raised its holdings in Lockheed Martin by 6.7% during the 3rd quarter. Financial Advocates Investment Management now owns 2,943 shares of the aerospace company’s stock valued at $1,720,000 after acquiring an additional 186 shares during the period. Goldstone Financial Group LLC purchased a new stake in shares of Lockheed Martin during the third quarter worth $1,017,000. Catalyst Financial Partners LLC boosted its holdings in shares of Lockheed Martin by 9.8% in the third quarter. Catalyst Financial Partners LLC now owns 917 shares of the aerospace company’s stock worth $536,000 after acquiring an additional 82 shares during the period. Finally, United Asset Strategies Inc. grew its position in shares of Lockheed Martin by 1.2% in the third quarter. United Asset Strategies Inc. now owns 30,833 shares of the aerospace company’s stock valued at $18,023,000 after purchasing an additional 379 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and decreased their target price for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. Citigroup dropped their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. UBS Group decreased their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Finally, Royal Bank of Canada dropped their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $553.67.

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.