Allstate Corp Purchases New Holdings in Lockheed Martin Co. (NYSE:LMT)

Allstate Corp bought a new stake in Lockheed Martin Co. (NYSE:LMT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,359 shares of the aerospace company's stock, valued at approximately $3,090,000.

Several other institutional investors have also recently bought and sold shares of LMT. Charles Schwab Investment Management Inc. raised its position 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 purchasing an additional 1,132,461 shares during the last quarter. Geode Capital Management LLC raised its holdings in Lockheed Martin by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company's stock valued at $2,816,898,000 after buying an additional 83,997 shares during the last quarter. Wellington Management Group LLP boosted its position in Lockheed Martin by 8.5% during the 3rd 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. Bank of New York Mellon Corp grew its holdings in Lockheed Martin by 0.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company's stock worth $847,361,000 after acquiring an additional 15,085 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its stake in shares of Lockheed Martin by 53,784.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company's stock valued at $600,412,000 after acquiring an additional 1,233,275 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

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Insider Activity at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the 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 completion of the sale, the insider now directly owns 2,000 shares of the company's stock, valued at approximately $884,840. This represents a 61.63 % decrease in their position. 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 Lockheed Martin stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is owned by corporate insiders.

Lockheed Martin Stock Up 1.2 %

Lockheed Martin stock traded up $5.32 during mid-day trading on Monday, reaching $446.81. The stock had a trading volume of 1,689,946 shares, compared to its average volume of 1,208,496. 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 Co. has a fifty-two week low of $419.70 and a fifty-two week high of $618.95. The stock's 50-day simple moving average is $456.49 and its 200-day simple moving average is $509.90. The firm has a market capitalization of $105.17 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 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, sell-side analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were issued a $3.30 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.95%. Lockheed Martin's dividend payout ratio is presently 59.30%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LMT. Truist Financial assumed coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a "buy" rating and a $579.00 price objective for the company. Citigroup decreased their price target on Lockheed Martin from $700.00 to $600.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. Bank of America lowered Lockheed Martin from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. JPMorgan Chase & Co. decreased their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. Finally, Morgan Stanley reduced their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $539.53.

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.