Zacks Investment Management Sells 14,118 Shares of Lockheed Martin Co. (NYSE:LMT)

Zacks Investment Management trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 9.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 134,687 shares of the aerospace company's stock after selling 14,118 shares during the quarter. Zacks Investment Management owned about 0.06% of Lockheed Martin worth $65,450,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new position in shares of Lockheed Martin during the 4th quarter valued at about $32,000. Mizuho Securities Co. Ltd. bought a new position in Lockheed Martin during the fourth quarter valued at approximately $34,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $35,000. Redwood Park Advisors LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at about $40,000. Finally, Runnymede Capital Advisors Inc. bought a new position in Lockheed Martin during the 4th quarter worth approximately $42,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Down 2.8 %

NYSE LMT traded down $13.28 during trading hours on Friday, reaching $463.80. 3,051,557 shares of the company's stock traded hands, compared to its average volume of 1,244,929. Lockheed Martin Co. has a 52-week low of $418.88 and a 52-week high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The firm has a 50-day simple moving average of $452.24 and a 200 day simple moving average of $496.52. The firm 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 posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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%. Sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were given a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin's dividend payout ratio is presently 59.30%.

Analysts Set New Price Targets

A number of research firms recently commented on LMT. Citigroup lowered their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Melius Research lowered shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Bank of America downgraded Lockheed Martin from a "buy" rating to a "neutral" rating and reduced their price target for the company from $685.00 to $485.00 in a report on Monday, March 24th. 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 report on Monday, January 6th. Finally, Truist Financial started coverage on Lockheed Martin in a research note on Tuesday, January 14th. They set a "buy" rating and a $579.00 target price on the stock. One equities research 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $539.93.

Insider Buying and Selling

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business's stock in a transaction that occurred 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on 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 in the company, valued at approximately $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. Insiders have sold a total of 7,133 shares of company stock worth $3,155,916 in the last quarter. Corporate insiders own 0.14% of the company's stock.

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.