Lockheed Martin Corporation $LMT Shares Sold by CENTRAL TRUST Co

CENTRAL TRUST Co lowered its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 6.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,103 shares of the aerospace company’s stock after selling 900 shares during the period. CENTRAL TRUST Co’s holdings in Lockheed Martin were worth $6,541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Barnes Dennig Private Wealth Management LLC boosted its stake in shares of Lockheed Martin by 285.7% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock worth $27,000 after acquiring an additional 40 shares in the last quarter. Grey Fox Wealth Advisors LLC acquired a new position in Lockheed Martin during the third quarter worth $27,000. Mid American Wealth Advisory Group Inc. acquired a new position in Lockheed Martin during the second quarter worth $28,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Lockheed Martin during the second quarter worth $29,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Lockheed Martin in the third quarter valued at $35,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $637.25 on Friday. The stock has a market capitalization of $146.62 billion, a P/E ratio of 29.65, a P/E/G ratio of 1.14 and a beta of 0.23. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $646.59. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.09 and a quick ratio of 0.94. The firm’s 50-day moving average is $541.42 and its two-hundred day moving average is $492.08.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Thursday, January 29th. The aerospace company reported $5.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.33 by ($0.53). The firm had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.84 billion. Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $7.67 EPS. Equities analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 2nd will be given a $3.45 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.2%. Lockheed Martin’s payout ratio is currently 64.22%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LMT shares. Citigroup lifted their price target on Lockheed Martin from $592.00 to $673.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Royal Bank Of Canada lifted their target price on shares of Lockheed Martin from $615.00 to $650.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. DZ Bank downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and set a $665.00 price target on the stock. in a report on Tuesday, February 3rd. Truist Financial raised their price objective on shares of Lockheed Martin from $605.00 to $695.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Jefferies Financial Group upped their target price on Lockheed Martin from $540.00 to $630.00 and gave the company a “hold” rating in a research note on Sunday, February 1st. Six equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and a consensus price target of $612.50.

About Lockheed Martin

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.