Stock Yards Bank & Trust Co. Trims Stake in Lockheed Martin Co. (NYSE:LMT)

Stock Yards Bank & Trust Co. reduced its position in Lockheed Martin Co. (NYSE:LMT) by 3.2% in the 4th quarter, Holdings Channel reports. The firm owned 10,352 shares of the aerospace company’s stock after selling 337 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Lockheed Martin were worth $5,030,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in LMT. Itau Unibanco Holding S.A. purchased a new stake in shares of Lockheed Martin in the 3rd quarter valued at about $26,000. Burkett Financial Services LLC purchased a new stake in shares of Lockheed Martin in the 3rd quarter valued at about $32,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin in the 4th quarter valued at about $35,000. Capital Performance Advisors LLP acquired a new position in Lockheed Martin in the 3rd quarter valued at about $40,000. Finally, Legacy Investment Solutions LLC acquired a new position in Lockheed Martin in the 3rd quarter valued at about $42,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $462.53 on Monday. The business’s 50 day simple moving average is $492.29 and its 200-day simple moving average is $536.89. The firm has a market capitalization of $108.88 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 2.96 and a beta of 0.48. 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 12 month low of $413.92 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last posted 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 return on equity of 101.47% and a net margin of 7.51%. As a group, equities analysts forecast that Lockheed Martin Co. will post 27.29 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is currently 59.30%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on LMT shares. Royal Bank of Canada dropped their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Citigroup dropped their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Wells Fargo & Company dropped their price target on Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating on the stock in a research report on Thursday. TD Cowen boosted their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Truist Financial assumed coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $555.60.

Lockheed Martin Company 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.