Westpac Banking Corp Sells 6,429 Shares of Lockheed Martin Co. (NYSE:LMT)

Financial News Live · Apr 28, 2023 04:43

Westpac Banking Corp trimmed its position in Lockheed Martin Co. (NYSE:LMT – Get Rating) by 19.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,933 shares of the aerospace company's stock after selling 6,429 shares during the quarter. Westpac Banking Corp's holdings in Lockheed Martin were worth $12,616,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mendota Financial Group LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter worth about $29,000. Blue Bell Private Wealth Management LLC lifted its holdings in Lockheed Martin by 590.9% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 76 shares of the aerospace company's stock worth $37,000 after buying an additional 65 shares during the period. Baldwin Brothers LLC MA grew its position in shares of Lockheed Martin by 700.0% in the 4th quarter. Baldwin Brothers LLC MA now owns 80 shares of the aerospace company's stock worth $39,000 after buying an additional 70 shares during the last quarter. Optiver Holding B.V. purchased a new position in shares of Lockheed Martin during the third quarter valued at approximately $36,000. Finally, EWG Elevate Inc. bought a new position in shares of Lockheed Martin during the fourth quarter valued at approximately $45,000. 75.18% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Susquehanna boosted their price objective on shares of Lockheed Martin from $510.00 to $512.00 and gave the company a "positive" rating in a research report on Wednesday, January 25th. Robert W. Baird cut shares of Lockheed Martin from an "outperform" rating to a "neutral" rating and set a $513.00 price target on the stock. in a research report on Wednesday, April 12th. JPMorgan Chase & Co. raised their price objective on shares of Lockheed Martin from $480.00 to $500.00 and gave the stock a "neutral" rating in a report on Wednesday, April 19th. DZ Bank upgraded Lockheed Martin from a "hold" rating to a "buy" rating and set a $523.00 target price on the stock in a report on Monday, January 30th. Finally, Wells Fargo & Company lowered their target price on Lockheed Martin from $422.00 to $419.00 and set an "underweight" rating for the company in a research note on Wednesday, April 19th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Lockheed Martin presently has an average rating of "Hold" and an average target price of $494.79.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $461.62 on Thursday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.10 and a current ratio of 1.30. The company has a market capitalization of $116.91 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 2.89 and a beta of 0.67. Lockheed Martin Co. has a one year low of $373.67 and a one year high of $508.10. The company's 50-day moving average is $479.72 and its 200 day moving average is $471.95.

Lockheed Martin (NYSE:LMT – Get Rating) last posted its quarterly earnings results on Tuesday, April 18th. The aerospace company reported $6.43 EPS for the quarter, beating analysts' consensus estimates of $6.08 by $0.35. Lockheed Martin had a net margin of 8.60% and a return on equity of 67.75%. The firm had revenue of $15.13 billion for the quarter, compared to analysts' expectations of $15.01 billion. During the same quarter in the prior year, the company posted $6.44 earnings per share. The business's revenue for the quarter was up 1.1% on a year-over-year basis. Sell-side analysts expect that Lockheed Martin Co. will post 26.77 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Thursday, June 1st will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.60%. Lockheed Martin's dividend payout ratio (DPR) is presently 54.84%.

Insider Buying and Selling

In other Lockheed Martin news, EVP Timothy S. Cahill sold 2,534 shares of the company's stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $479.44, for a total transaction of $1,214,900.96. Following the transaction, the executive vice president now owns 10,460 shares in the company, valued at approximately $5,014,942.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Timothy S. Cahill sold 2,534 shares of the firm's stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $479.44, for a total value of $1,214,900.96. Following the sale, the executive vice president now owns 10,460 shares in the company, valued at $5,014,942.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephanie C. Hill sold 2,391 shares of the business's stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $490.84, for a total transaction of $1,173,598.44. Following the sale, the executive vice president now owns 12,604 shares of the company's stock, valued at $6,186,547.36. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

Lockheed Martin Profile

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Lockheed Martin Corp. is a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.