Lockheed Martin Co. (NYSE:LMT) Shares Bought by Washington Trust Bank

Washington Trust Bank raised its stake in Lockheed Martin Co. (NYSE:LMT) by 57.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,630 shares of the aerospace company’s stock after purchasing an additional 593 shares during the period. Washington Trust Bank’s holdings in Lockheed Martin were worth $792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its stake in Lockheed Martin by 17.9% in 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 acquiring an additional 1,132,461 shares in the last quarter. Geode Capital Management LLC boosted its stake in 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 valued at $2,816,898,000 after acquiring an additional 83,997 shares in the last quarter. FMR LLC boosted its stake in Lockheed Martin by 6.6% in the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after acquiring an additional 209,591 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Lockheed Martin by 8.5% during 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 buying an additional 240,306 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of 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 period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Transactions at Lockheed Martin

In related news, 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 transaction of $312,925.27. Following the sale, the vice president now owns 2,278 shares in the company, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This trade represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock valued at $3,155,916 in the last ninety days. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LMT. Truist Financial began coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price for the company. Royal Bank of Canada decreased their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Citigroup decreased their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Barclays decreased their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Finally, UBS Group reduced their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $554.20.

Lockheed Martin Trading Down 5.7 %

Shares of Lockheed Martin stock opened at $440.26 on Friday. Lockheed Martin Co. has a 12-month low of $419.70 and a 12-month high of $618.95. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The stock has a market cap of $103.63 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a 50-day moving average of $460.94 and a two-hundred day moving average of $515.23.

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

Lockheed Martin Announces Dividend

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