Heritage Trust Co Makes New $2.75 Million Investment in Lockheed Martin Co. (NYSE:LMT)

Heritage Trust Co bought a new position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,649 shares of the aerospace company's stock, valued at approximately $2,745,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LMT. Millstone Evans Group LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at $32,000. Mizuho Securities Co. Ltd. acquired a new position in Lockheed Martin during the 4th quarter worth approximately $34,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin in the 4th quarter worth approximately $35,000. Redwood Park Advisors LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter valued at approximately $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Lockheed Martin during the fourth quarter worth $42,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded up $11.41 during trading hours on Friday, hitting $475.11. The stock had a trading volume of 1,451,768 shares, compared to its average volume of 1,239,635. 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's fifty day simple moving average is $450.03 and its 200 day simple moving average is $500.71. The firm has a market capitalization of $111.45 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 2.07 and a beta of 0.39. Lockheed Martin Co. has a 1-year low of $418.88 and a 1-year high of $618.95.

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Lockheed Martin (NYSE:LMT - Get Free Report) last announced 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%. Sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date was Monday, March 3rd. Lockheed Martin's dividend payout ratio is presently 59.30%.

Insider Buying and Selling

In other news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction 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 completion of the sale, the vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the transaction, the insider now directly owns 2,000 shares in the company, valued at $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock valued at $3,155,916 over the last three months. Company insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LMT. Morgan Stanley cut 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 report on Wednesday, January 29th. Melius downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Barclays reduced their target price on 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. Citigroup reduced their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. Finally, Truist Financial began coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a "buy" rating and a $579.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $536.60.

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.