Bogart Wealth LLC Reduces Position in Lockheed Martin Co. (NYSE:LMT)

Bogart Wealth LLC trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,059 shares of the aerospace company’s stock after selling 407 shares during the period. Lockheed Martin accounts for about 0.7% of Bogart Wealth LLC’s holdings, making the stock its 25th biggest holding. Bogart Wealth LLC’s holdings in Lockheed Martin were worth $11,811,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Herold Advisors Inc. raised its holdings in shares of Lockheed Martin by 8.6% during the 3rd 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 raised its position in shares of 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 valued at $8,624,000 after buying an additional 770 shares during the period. Alethea Capital Management LLC acquired a new position in Lockheed Martin in the third quarter valued at approximately $415,000. New Mexico Educational Retirement Board grew its position in 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 worth $4,784,000 after acquiring an additional 700 shares during the period. Finally, Gilbert & Cook Inc. increased its stake in Lockheed Martin by 22.8% during the third quarter. Gilbert & Cook Inc. now owns 1,275 shares of the aerospace company’s stock worth $521,000 after acquiring an additional 237 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group cut their price objective on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a report on Tuesday, April 23rd. JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $475.00 to $518.00 in a research note on Monday, April 15th. UBS Group raised their price target on Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Susquehanna dropped their price objective on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating on the stock in a report on Wednesday, January 24th. Finally, Morgan Stanley decreased their target price on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and an average price target of $485.40.

Lockheed Martin Stock Performance

Shares of LMT traded up $1.11 on Thursday, reaching $467.27. 88,556 shares of the stock traded hands, compared to its average volume of 1,126,296. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.11. The stock’s 50-day moving average price is $448.81 and its 200-day moving average price is $445.66. The firm has a market cap of $112.12 billion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 4.23 and a beta of 0.46. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $479.50.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.53. The firm had revenue of $17.20 billion during the quarter, compared to the consensus estimate of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.43 EPS. Equities analysts forecast that Lockheed Martin Co. will post 26.15 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 28th. Investors of record on Monday, June 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a yield of 2.70%. The ex-dividend date is Monday, June 3rd. Lockheed Martin’s payout ratio is presently 46.10%.

Insider Transactions at Lockheed Martin

In related news, SVP Maryanne Lavan sold 4,022 shares of the stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gregory M. Ulmer sold 6,204 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the transaction, the insider now owns 12,604 shares of the company’s stock, valued at approximately $5,434,718.76. The disclosure for this sale can be found here. Insiders have sold a total of 16,874 shares of company stock valued at $7,249,946 over the last 90 days. 0.14% of the stock is owned by company 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.