Lockheed Martin Co. (NYSE:LMT) Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,752 shares of the aerospace company’s stock after selling 55 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Lockheed Martin were worth $2,309,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of LMT. Itau Unibanco Holding S.A. acquired a new position in Lockheed Martin in the third quarter valued at approximately $26,000. Millstone Evans Group LLC acquired a new position in shares of Lockheed Martin in the 4th quarter valued at $32,000. Heck Capital Advisors LLC purchased a new stake in Lockheed Martin during the fourth quarter worth $35,000. Legacy Investment Solutions LLC acquired a new stake in Lockheed Martin during the third quarter valued at $42,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in Lockheed Martin in the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Buying and Selling at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the sale, the insider now directly owns 2,000 shares of the company’s stock, 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 have sold 7,133 shares of company stock worth $3,155,916 in the last ninety days. 0.17% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on LMT. Bank of America lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $685.00 to $485.00 in a research note on Monday. Melius cut Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. decreased their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. UBS Group cut their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Finally, StockNews.com raised shares of Lockheed Martin from a “hold” rating to a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $544.20.

Lockheed Martin Price Performance

NYSE:LMT opened at $442.63 on Wednesday. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95. The stock has a market cap of $104.19 billion, a PE ratio of 19.88, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The stock has a 50 day moving average price of $459.13 and a 200 day moving average price of $512.63.

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 the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Equities research analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

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 dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 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.