Allstate Corp Decreases Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Allstate Corp trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 777 shares of the aerospace company’s stock after selling 64 shares during the period. Allstate Corp’s holdings in Lockheed Martin were worth $352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Altshuler Shaham Ltd bought a new position in Lockheed Martin in the 4th quarter valued at $26,000. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Lockheed Martin by 73.0% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 64 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 27 shares during the last quarter. Activest Wealth Management lifted its stake in shares of Lockheed Martin by 1,200.0% during the 4th quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 60 shares during the last quarter. Milestone Investment Advisors LLC purchased a new stake in shares of Lockheed Martin during the 3rd quarter worth $33,000. Finally, Iron Horse Wealth Management LLC raised its stake in Lockheed Martin by 1,925.0% in the fourth quarter. Iron Horse Wealth Management LLC now owns 81 shares of the aerospace company’s stock valued at $37,000 after buying an additional 77 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lockheed Martin news, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total value of $1,747,116.58. The transaction was disclosed in a filing 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 company’s stock in a transaction that occurred on 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. In the last ninety days, insiders have sold 16,874 shares of company stock valued at $7,249,946. 0.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LMT has been the subject of a number of research analyst reports. Royal Bank of Canada decreased their price target 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. The Goldman Sachs Group dropped their price objective on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a report on Tuesday, April 23rd. UBS Group lifted their price target on Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Finally, Susquehanna lowered their target price on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $485.40.

Lockheed Martin Stock Performance

Shares of LMT stock traded down $1.66 during trading hours on Thursday, reaching $468.05. 272,409 shares of the company’s stock were exchanged, compared to its average volume of 1,082,927. The company has a market cap of $112.30 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 4.41 and a beta of 0.46. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.11. The company’s 50 day moving average is $456.62 and its two-hundred day moving average is $447.11. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $479.50.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53. The business had revenue of $17.20 billion for the quarter, compared to analysts’ expectations of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.43 EPS. Equities research analysts anticipate that Lockheed Martin Co. will post 26.17 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Monday, June 3rd. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Lockheed Martin 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.