Simplicity Wealth LLC Has $730,000 Stock Position in Lockheed Martin Co. (NYSE:LMT)

Simplicity Wealth LLC lowered its stake in Lockheed Martin Co. (NYSE:LMT) by 64.9% during the fourth quarter, HoldingsChannel reports. The firm owned 1,503 shares of the aerospace company’s stock after selling 2,779 shares during the period. Simplicity Wealth LLC’s holdings in Lockheed Martin were worth $730,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in Lockheed Martin by 17.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after purchasing an additional 1,132,461 shares in the last quarter. Geode Capital Management LLC increased its stake in Lockheed Martin by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock worth $2,816,898,000 after purchasing an additional 83,997 shares in the last quarter. FMR LLC increased its stake in Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares in the last quarter. Wellington Management Group LLP increased its stake in Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Lockheed Martin by 0.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company’s stock worth $847,361,000 after purchasing an additional 15,085 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Buying and Selling

In other 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 directly owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares of the company’s stock, valued at approximately $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. StockNews.com cut Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Wells Fargo & Company lifted their target price on Lockheed Martin from $468.00 to $476.00 and gave the company an “equal weight” rating in a research note on Friday. Royal Bank of Canada lowered their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. UBS Group lowered their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and lowered their target price for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $554.20.

Lockheed Martin Stock Up 2.8 %

Shares of Lockheed Martin stock opened at $474.31 on Monday. The firm has a market cap of $111.65 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95. The stock has a 50-day simple moving average of $462.89 and a 200-day simple moving average of $521.36.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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%. On average, equities research analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.78%. Lockheed Martin’s dividend payout ratio (DPR) is currently 59.30%.

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.