Synovus Financial Corp Lowers Holdings in Lockheed Martin Co. (NYSE:LMT)

Synovus Financial Corp reduced its position in Lockheed Martin Co. (NYSE:LMT - Free Report) by 10.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,224 shares of the aerospace company's stock after selling 6,378 shares during the quarter. Synovus Financial Corp's holdings in Lockheed Martin were worth $27,818,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. CFS Investment Advisory Services LLC grew its holdings in Lockheed Martin by 2.0% during the fourth quarter. CFS Investment Advisory Services LLC now owns 1,091 shares of the aerospace company's stock valued at $530,000 after purchasing an additional 21 shares during the period. Wynn Capital LLC grew its stake in shares of Lockheed Martin by 1.0% during the 4th quarter. Wynn Capital LLC now owns 2,185 shares of the aerospace company's stock valued at $1,062,000 after acquiring an additional 22 shares during the period. PBMares Wealth Management LLC increased its holdings in Lockheed Martin by 0.6% in the 4th quarter. PBMares Wealth Management LLC now owns 3,745 shares of the aerospace company's stock worth $1,820,000 after acquiring an additional 22 shares in the last quarter. Nvwm LLC raised its stake in Lockheed Martin by 2.5% during the 4th quarter. Nvwm LLC now owns 908 shares of the aerospace company's stock worth $441,000 after acquiring an additional 22 shares during the period. Finally, Schear Investment Advisers LLC lifted its holdings in Lockheed Martin by 2.0% during the fourth quarter. Schear Investment Advisers LLC now owns 1,147 shares of the aerospace company's stock valued at $557,000 after purchasing an additional 22 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. UBS Group decreased their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 29th. Barclays dropped their price objective 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. Melius Research downgraded Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Bank of America downgraded Lockheed Martin from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Finally, Morgan Stanley upgraded shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $539.93.

Insider Buying and Selling

In other 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 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 document filed with the SEC, which is accessible through the SEC website. Also, 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 sale, the insider now owns 2,000 shares of the company's stock, valued at $884,840. The trade was a 61.63 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,133 shares of company stock valued at $3,155,916. Company insiders own 0.17% of the company's stock.

Lockheed Martin Trading Down 2.8 %

LMT traded down $13.28 on Thursday, hitting $463.80. The company had a trading volume of 3,051,557 shares, compared to its average volume of 1,241,668. The business's fifty day simple moving average is $451.64 and its 200 day simple moving average is $499.06. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 12-month low of $418.88 and a 12-month high of $618.95. The company has a market cap of $108.79 billion, a PE ratio of 20.84, a PEG ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping analysts' consensus estimates 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 year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders 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 annualized dividend and a dividend yield of 2.85%. 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.