Lockheed Martin Co. (NYSE:LMT) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lowered its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,546 shares of the aerospace company’s stock after selling 562 shares during the period. Cullen Frost Bankers Inc.’s holdings in Lockheed Martin were worth $13,845,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Herold Advisors Inc. increased its position in shares of Lockheed Martin by 8.6% during the third quarter. Herold Advisors Inc. now owns 3,448 shares of the aerospace company’s stock worth $1,410,000 after acquiring an additional 274 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Lockheed Martin by 3.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,088 shares of the aerospace company’s stock worth $8,624,000 after buying an additional 770 shares during the last quarter. Alethea Capital Management LLC acquired a new position in Lockheed Martin during the third quarter worth approximately $415,000. New Mexico Educational Retirement Board boosted its holdings in shares of Lockheed Martin by 6.4% in the third quarter. New Mexico Educational Retirement Board now owns 11,697 shares of the aerospace company’s stock valued at $4,784,000 after acquiring an additional 700 shares during the period. Finally, Gilbert & Cook Inc. increased its holdings in shares of Lockheed Martin by 22.8% in the 3rd quarter. Gilbert & Cook Inc. now owns 1,275 shares of the aerospace company’s stock valued at $521,000 after acquiring an additional 237 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LMT. Morgan Stanley dropped their price objective on shares of Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $475.00 to $518.00 in a research note on Monday, April 15th. Citigroup increased their price objective on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Susquehanna decreased their target price on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating on the stock in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $485.40.

Lockheed Martin Price Performance

Shares of LMT traded down $0.41 during trading hours on Wednesday, reaching $466.27. 598,990 shares of the company traded hands, compared to its average volume of 1,138,276. The stock has a fifty day simple moving average of $448.81 and a 200 day simple moving average of $445.66. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $479.50. The stock has a market capitalization of $111.88 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 4.23 and a beta of 0.46. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $16.04 billion. During the same period in the previous year, the company earned $6.43 EPS. Lockheed Martin’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, research analysts predict that Lockheed Martin Co. will post 26.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business 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 yield of 2.70%. The ex-dividend date of this dividend is Monday, June 3rd. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Insider Transactions at Lockheed Martin

In related news, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Maryanne Lavan sold 4,022 shares of the stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO John Frank A. St sold 6,648 shares of the business’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 disclosure for this sale can be found here. Insiders sold a total of 16,874 shares of company stock worth $7,249,946 in the last ninety days. Insiders own 0.14% of the company’s stock.

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.