SouthState Corp Decreases Stock Position in Lockheed Martin Co. (NYSE:LMT)

SouthState Corp cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,275 shares of the aerospace company’s stock after selling 30 shares during the quarter. SouthState Corp’s holdings in Lockheed Martin were worth $1,031,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in 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 in the last quarter. Activest Wealth Management lifted its holdings in shares of Lockheed Martin by 1,200.0% in the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after buying an additional 60 shares in the last quarter. Milestone Investment Advisors LLC purchased a new stake in shares of Lockheed Martin in the third quarter worth about $33,000. Iron Horse Wealth Management LLC grew its stake in Lockheed Martin by 1,925.0% during the fourth quarter. Iron Horse Wealth Management LLC now owns 81 shares of the aerospace company’s stock valued at $37,000 after acquiring an additional 77 shares in the last quarter. Finally, Providence Capital Advisors LLC bought a new stake in Lockheed Martin during the 3rd quarter worth approximately $35,000. 74.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on LMT shares. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Wells Fargo & Company boosted their target price on Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. UBS Group raised their price target on Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. The Goldman Sachs Group lowered their target price on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research note on Tuesday, April 23rd. Finally, Citigroup increased their price objective on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $485.40.

Lockheed Martin Stock Down 0.3 %

Lockheed Martin stock traded down $1.25 during trading hours on Friday, hitting $461.95. 910,767 shares of the stock traded hands, compared to its average volume of 1,153,347. The company has a market cap of $110.84 billion, a PE ratio of 16.90, a PEG ratio of 4.22 and a beta of 0.46. The company has a current ratio of 1.30, a quick ratio of 1.11 and a debt-to-equity ratio of 2.89. The firm’s 50-day moving average price is $446.80 and its two-hundred day moving average price is $445.23. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $479.50.

Lockheed Martin (NYSE:LMT) last released its 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. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The firm had revenue of $17.20 billion for the quarter, compared to the consensus estimate of $16.04 billion. During the same period in the prior year, the firm earned $6.43 EPS. The company’s revenue was up 13.7% compared to the same quarter last year. On average, research analysts forecast that Lockheed Martin Co. will post 26.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be given a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a yield of 2.73%. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the stock in a transaction dated 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 SEC, which is accessible through this link. In other news, COO John Frank A. St sold 6,648 shares of the company’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 Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maryanne Lavan sold 4,022 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total transaction of $1,747,116.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,874 shares of company stock valued at $7,249,946. 0.17% of the stock is owned by corporate insiders.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.