Federated Hermes Inc. Sells 1,377 Shares of Lockheed Martin Co. (NYSE:LMT)

Federated Hermes Inc. reduced its holdings in Lockheed Martin Co. (NYSE:LMT - Free Report) by 11.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,227 shares of the aerospace company's stock after selling 1,377 shares during the quarter. Federated Hermes Inc.'s holdings in Lockheed Martin were worth $4,970,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Morse Asset Management Inc lifted its stake in Lockheed Martin by 1.0% during the third quarter. Morse Asset Management Inc now owns 3,058 shares of the aerospace company's stock valued at $1,788,000 after buying an additional 31 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Lockheed Martin in the 3rd quarter valued at approximately $447,000. Tudor Financial Inc. acquired a new position in Lockheed Martin in the 3rd quarter worth approximately $557,000. Anchor Investment Management LLC grew its position in Lockheed Martin by 8.4% during the 3rd quarter. Anchor Investment Management LLC now owns 4,125 shares of the aerospace company's stock worth $2,411,000 after purchasing an additional 320 shares in the last quarter. Finally, Fulcrum Equity Management raised its stake in Lockheed Martin by 4.7% during the 3rd quarter. Fulcrum Equity Management now owns 900 shares of the aerospace company's stock valued at $526,000 after purchasing an additional 40 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Harry Edward Paul III sold 707 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the sale, the vice president now owns 2,278 shares of the company's stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares of the company's stock, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is currently owned by company insiders.

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Lockheed Martin Stock Performance

LMT stock traded down $5.42 during mid-day trading on Tuesday, reaching $469.92. 790,020 shares of the stock traded hands, compared to its average volume of 1,237,303. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The business has a 50-day moving average of $450.55 and a two-hundred day moving average of $499.42. The firm has a market capitalization of $110.23 billion, a PE ratio of 21.11, a P/E/G ratio of 2.07 and a beta of 0.39. Lockheed Martin Co. has a 52 week low of $418.88 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping 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%. As a group, equities analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were paid a dividend of $3.30 per share. The ex-dividend date was Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.81%. Lockheed Martin's dividend payout ratio is 59.30%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LMT. StockNews.com downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. JPMorgan Chase & Co. dropped their target price on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. Melius cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating and lowered their price objective for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Finally, Susquehanna cut their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a "positive" rating for the company in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $536.60.

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.