Lockheed Martin Co. (NYSE:LMT) Shares Sold by RNC Capital Management LLC

RNC Capital Management LLC trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 98,670 shares of the aerospace company’s stock after selling 1,754 shares during the period. Lockheed Martin comprises approximately 2.7% of RNC Capital Management LLC’s holdings, making the stock its 16th largest holding. RNC Capital Management LLC’s holdings in Lockheed Martin were worth $44,721,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in LMT. Lee Financial Co raised its position in shares of Lockheed Martin by 367.6% in the 1st quarter. Lee Financial Co now owns 477 shares of the aerospace company’s stock valued at $210,000 after purchasing an additional 375 shares in the last quarter. Vontobel Holding Ltd. raised its position in shares of Lockheed Martin by 240.0% in the 1st quarter. Vontobel Holding Ltd. now owns 4,124 shares of the aerospace company’s stock valued at $1,821,000 after purchasing an additional 2,911 shares in the last quarter. Sei Investments Co. raised its position in shares of Lockheed Martin by 56.8% during the 1st quarter. Sei Investments Co. now owns 23,153 shares of the aerospace company’s stock valued at $9,995,000 after acquiring an additional 8,389 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Lockheed Martin by 18.4% during the 1st quarter. NewEdge Advisors LLC now owns 28,807 shares of the aerospace company’s stock valued at $12,716,000 after acquiring an additional 4,472 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Lockheed Martin by 20.4% during the 1st quarter. Mackenzie Financial Corp now owns 107,366 shares of the aerospace company’s stock valued at $47,391,000 after acquiring an additional 18,201 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO John Frank A. St sold 6,648 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Gregory M. Ulmer sold 6,204 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the completion of the sale, the insider now directly owns 12,604 shares of the company’s stock, valued at approximately $5,434,718.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Frank A. St sold 6,648 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The disclosure for this sale can be found here. Insiders sold a total of 16,874 shares of company stock valued at $7,249,946 over the last three months. Insiders own 0.17% of the company’s stock.

Lockheed Martin Trading Up 2.5 %

Shares of LMT stock opened at $456.93 on Thursday. The stock has a 50-day simple moving average of $433.46 and a 200 day simple moving average of $438.35. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $508.10. The stock has a market capitalization of $109.89 billion, a P/E ratio of 16.59, a P/E/G ratio of 4.08 and a beta of 0.48. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 2.53.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 23rd. The aerospace company reported $7.90 earnings per share for the quarter, beating the consensus estimate of $7.26 by $0.64. Lockheed Martin had a return on equity of 79.91% and a net margin of 10.24%. The business had revenue of $18.87 billion during the quarter, compared to analysts’ expectations of $17.96 billion. During the same quarter last year, the business posted $7.79 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, sell-side analysts expect that Lockheed Martin Co. will post 26.13 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be issued a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, February 29th. Lockheed Martin’s dividend payout ratio is 45.74%.

Wall Street Analysts Forecast Growth

LMT has been the topic of several research reports. Morgan Stanley dropped their price target on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft upped their price target on Lockheed Martin from $438.00 to $472.00 in a research report on Monday, January 22nd. Citigroup dropped their price target on Lockheed Martin from $540.00 to $508.00 and set a “buy” rating on the stock in a research report on Wednesday, January 24th. UBS Group lowered their price objective on Lockheed Martin from $488.00 to $475.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. Finally, Royal Bank of Canada lowered their price objective on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 24th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $491.92.

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.