Mackay Shields LLC lowered its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,650 shares of the aerospace company’s stock after selling 7,326 shares during the period. Mackay Shields LLC’s holdings in Lockheed Martin were worth $47,757,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of LMT. KCS Wealth Advisory acquired a new stake in shares of Lockheed Martin in the 3rd quarter worth $37,000. Samalin Investment Counsel LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter worth $37,000. Security National Trust Co. acquired a new stake in shares of Lockheed Martin in the 4th quarter worth $39,000. Savior LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter worth $61,000. Finally, Firestone Capital Management acquired a new stake in shares of Lockheed Martin in the 4th quarter worth $64,000. Hedge funds and other institutional investors own 71.07% of the company’s stock.
Shares of NYSE LMT traded down $14.73 during midday trading on Friday, hitting $369.87. The company had a trading volume of 3,363,475 shares, compared to its average volume of 1,318,574. The company has a quick ratio of 0.96, a current ratio of 1.22 and a debt-to-equity ratio of 3.60. Lockheed Martin Co. has a twelve month low of $292.53 and a twelve month high of $442.53. The business has a 50-day simple moving average of $427.49 and a two-hundred day simple moving average of $395.93. The firm has a market capitalization of $113.03 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 2.41 and a beta of 0.93.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 2nd will be issued a dividend of $2.40 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $9.60 annualized dividend and a yield of 2.60%. Lockheed Martin’s dividend payout ratio (DPR) is currently 43.74%.
In other Lockheed Martin news, CEO Marillyn A. Hewson sold 22,000 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $436.12, for a total transaction of $9,594,640.00. Following the completion of the transaction, the chief executive officer now directly owns 55,554 shares in the company, valued at approximately $24,228,210.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Frank A. St sold 556 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $438.60, for a total transaction of $243,861.60. Following the transaction, the executive vice president now owns 1,401 shares of the company’s stock, valued at $614,478.60. The disclosure for this sale can be found here. Insiders have sold a total of 39,793 shares of company stock valued at $17,313,473 over the last 90 days. 0.35% of the stock is currently owned by insiders.
Several analysts have recently commented on LMT shares. Cowen started coverage on shares of Lockheed Martin in a research note on Tuesday, January 28th. They issued a “buy” rating and a $454.00 target price for the company. Susquehanna Bancshares raised their target price on shares of Lockheed Martin from to and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Alembic Global Advisors cut shares of Lockheed Martin from an “overweight” rating to a “neutral” rating and set a $489.00 price objective for the company. in a research note on Wednesday, January 29th. Argus raised their price objective on shares of Lockheed Martin to and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, UBS Group raised their price objective on shares of Lockheed Martin from $440.00 to $470.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $442.47.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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