Lockheed Martin Co. (NYSE:LMT) Shares Sold by Phoenix Wealth Advisors

Phoenix Wealth Advisors lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,992 shares of the aerospace company’s stock after selling 349 shares during the period. Phoenix Wealth Advisors’ holdings in Lockheed Martin were worth $1,821,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in LMT. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of 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 valued at $26,000 after acquiring an additional 27 shares in the last quarter. Activest Wealth Management raised its holdings in shares of Lockheed Martin by 1,200.0% during the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 60 shares during the period. Coppell Advisory Solutions Corp. bought a new position in shares of Lockheed Martin in the 4th quarter worth about $31,000. Milestone Investment Advisors LLC acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at about $33,000. Finally, Providence Capital Advisors LLC bought a new stake in shares of Lockheed Martin during the 3rd quarter valued at about $35,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LMT shares. Susquehanna cut their target price on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating on the stock in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on Lockheed Martin from $438.00 to $472.00 in a research report on Monday, January 22nd. Citigroup lowered their price objective on Lockheed Martin from $540.00 to $508.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and raised their target price for the company from $475.00 to $518.00 in a research note on Monday. Finally, Morgan Stanley lowered their price target on shares of Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $493.36.

Insiders Place Their Bets

In other news, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total transaction of $1,747,116.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Gregory M. Ulmer sold 6,204 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total value of $2,675,102.76. Following the sale, the insider now directly owns 12,604 shares in the company, valued at approximately $5,434,718.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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. Insiders sold 16,874 shares of company stock worth $7,249,946 over the last ninety days. Company insiders own 0.14% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT traded up $1.23 during trading hours on Wednesday, reaching $454.31. 1,452,309 shares of the company’s stock traded hands, compared to its average volume of 984,293. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $508.10. The business’s fifty day simple moving average is $438.14 and its two-hundred day simple moving average is $442.02. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.21 and a quick ratio of 1.03. The firm has a market capitalization of $109.26 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 4.13 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 23rd. The aerospace company reported $7.90 EPS for the quarter, beating the consensus estimate of $7.26 by $0.64. Lockheed Martin had a net margin of 10.24% and a return on equity of 79.91%. The firm had revenue of $18.87 billion for the quarter, compared to analysts’ expectations of $17.96 billion. During the same quarter last year, the company earned $7.79 EPS. Lockheed Martin’s quarterly revenue was down .6% on a year-over-year basis. Analysts predict that Lockheed Martin Co. will post 26.13 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were issued a dividend of $3.15 per share. The ex-dividend date was Thursday, February 29th. This represents a $12.60 annualized dividend and a yield of 2.77%. Lockheed Martin’s payout ratio is 45.74%.

Lockheed Martin Profile

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.