Modera Wealth Management LLC Sells 2,856 Shares of Lockheed Martin Co. (NYSE:LMT)

Modera Wealth Management LLC reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 8.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,670 shares of the aerospace company’s stock after selling 2,856 shares during the period. Modera Wealth Management LLC’s holdings in Lockheed Martin were worth $15,876,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of Lockheed Martin by 1.8% during the third quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock valued at $2,816,898,000 after acquiring an additional 83,997 shares during the period. FMR LLC lifted its holdings in Lockheed Martin by 6.6% during the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after purchasing an additional 209,591 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Lockheed Martin by 8.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after purchasing an additional 240,306 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Lockheed Martin by 0.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company’s stock valued at $847,361,000 after buying an additional 15,085 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in shares of Lockheed Martin by 53,784.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock worth $600,412,000 after buying an additional 1,233,275 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Activity

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the transaction, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock worth $3,155,916 over the last three months. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Price Performance

LMT opened at $450.19 on Friday. The company has a fifty day moving average price of $465.79 and a two-hundred day moving average price of $525.10. The firm has a market capitalization of $105.97 billion, a PE ratio of 20.22, a P/E/G ratio of 2.07 and a beta of 0.48. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.93%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LMT shares. Citigroup cut their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Truist Financial started coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. Barclays decreased their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. dropped their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Finally, Wells Fargo & Company decreased their price target on shares of Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $553.67.

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.