Insider Selling: Lockheed Martin Co. (NYSE:LMT) Insider Sells 3,213 Shares of Stock

Lockheed Martin Co. (NYSE:LMT - Get Free Report) insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Lockheed Martin Stock Performance

Shares of LMT stock traded up $2.63 during mid-day trading on Monday, hitting $449.70. The stock had a trading volume of 236,429 shares, compared to its average volume of 1,539,782. Lockheed Martin Co. has a fifty-two week low of $419.70 and a fifty-two week high of $618.95. The company's 50-day simple moving average is $465.79 and its 200-day simple moving average is $524.83. The firm has a market cap of $105.85 billion, a PE ratio of 20.20, a PEG ratio of 2.07 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 (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 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%. Sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business 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. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin's dividend payout ratio is currently 59.30%.

Hedge Funds Weigh In On Lockheed Martin

A number of large investors have recently bought and sold shares of the stock. abrdn plc lifted its holdings in shares of Lockheed Martin by 14.8% during the 3rd quarter. abrdn plc now owns 21,036 shares of the aerospace company's stock valued at $12,240,000 after acquiring an additional 2,707 shares in the last quarter. Financial Advocates Investment Management grew its stake in Lockheed Martin by 6.7% during the 3rd quarter. Financial Advocates Investment Management now owns 2,943 shares of the aerospace company's stock valued at $1,720,000 after purchasing an additional 186 shares in the last quarter. Goldstone Financial Group LLC purchased a new stake in Lockheed Martin during the 3rd quarter worth approximately $1,017,000. Catalyst Financial Partners LLC raised its position in shares of Lockheed Martin by 9.8% in the 3rd quarter. Catalyst Financial Partners LLC now owns 917 shares of the aerospace company's stock valued at $536,000 after purchasing an additional 82 shares in the last quarter. Finally, United Asset Strategies Inc. raised its position in shares of Lockheed Martin by 1.2% in the 3rd quarter. United Asset Strategies Inc. now owns 30,833 shares of the aerospace company's stock valued at $18,023,000 after purchasing an additional 379 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Analyst Upgrades and Downgrades

LMT has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a "buy" rating to a "hold" rating and cut their price target for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. StockNews.com cut Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Barclays cut their price objective on Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating on the stock in a report on Monday, January 6th. Wells Fargo & Company lowered their target price on Lockheed Martin from $497.00 to $468.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Finally, Citigroup cut their price target 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of "Moderate Buy" and a consensus price target of $553.67.

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.