Lockheed Martin Co. (LMT) Shares Sold by RKL Wealth Management LLC

RKL Wealth Management LLC decreased its position in Lockheed Martin Co. (NYSE:LMT) by 11.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,391 shares of the aerospace company’s stock after selling 708 shares during the period. RKL Wealth Management LLC’s holdings in Lockheed Martin were worth $1,631,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of LMT. Oregon Public Employees Retirement Fund lifted its stake in Lockheed Martin by 77,867.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,152,483 shares of the aerospace company’s stock valued at $81,000 after purchasing an additional 21,125,353 shares during the last quarter. BlackRock Inc. lifted its stake in Lockheed Martin by 8.2% in the fourth quarter. BlackRock Inc. now owns 18,811,944 shares of the aerospace company’s stock valued at $4,925,719,000 after purchasing an additional 1,426,889 shares during the last quarter. Geode Capital Management LLC lifted its stake in Lockheed Martin by 25.3% in the fourth quarter. Geode Capital Management LLC now owns 3,422,800 shares of the aerospace company’s stock valued at $894,874,000 after purchasing an additional 691,751 shares during the last quarter. California Public Employees Retirement System lifted its stake in Lockheed Martin by 40.6% in the fourth quarter. California Public Employees Retirement System now owns 1,294,842 shares of the aerospace company’s stock valued at $339,041,000 after purchasing an additional 373,997 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in Lockheed Martin by 47.7% in the fourth quarter. Bank of Montreal Can now owns 968,019 shares of the aerospace company’s stock valued at $253,466,000 after purchasing an additional 312,488 shares during the last quarter. Institutional investors and hedge funds own 78.59% of the company’s stock.

Several equities analysts recently commented on LMT shares. Zacks Investment Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 14th. Vertical Group upgraded Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Thursday, January 10th. Citigroup dropped their price objective on Lockheed Martin from $400.00 to $338.00 and set a “buy” rating on the stock in a research note on Monday, January 14th. Bank of America reiterated a “buy” rating and issued a $390.00 price objective on shares of Lockheed Martin in a research note on Wednesday, January 30th. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $297.00 price objective on shares of Lockheed Martin in a research note on Wednesday, January 23rd. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $352.31.

In other Lockheed Martin news, VP Brian P. Colan sold 4,000 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $304.56, for a total transaction of $1,218,240.00. Following the sale, the vice president now owns 2,489 shares in the company, valued at $758,049.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David B. Burritt sold 2,100 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $330.21, for a total value of $693,441.00. Following the sale, the director now owns 6,030 shares in the company, valued at approximately $1,991,166.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,286 shares of company stock worth $26,704,368. Company insiders own 0.35% of the company’s stock.

NYSE:LMT opened at $334.07 on Friday. The firm has a market cap of $94.39 billion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 2.32 and a beta of 1.04. Lockheed Martin Co. has a 1 year low of $241.18 and a 1 year high of $351.35. The company has a current ratio of 1.17, a quick ratio of 0.96 and a debt-to-equity ratio of 5.00.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, April 23rd. The aerospace company reported $5.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.29 by $1.70. The firm had revenue of $14.34 billion for the quarter, compared to the consensus estimate of $12.48 billion. Lockheed Martin had a return on equity of 415.92% and a net margin of 9.91%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.02 earnings per share. On average, analysts predict that Lockheed Martin Co. will post 20.53 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be given a dividend of $2.20 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $8.80 annualized dividend and a dividend yield of 2.63%. Lockheed Martin’s dividend payout ratio is currently 49.30%.

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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.

Further Reading: Dividend

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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