Corient Private Wealth LLC Decreases Stake in Lockheed Martin Co. (NYSE:LMT)

Corient Private Wealth LLC reduced its position in Lockheed Martin Co. (NYSE:LMT) by 3.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 272,620 shares of the aerospace company’s stock after selling 10,852 shares during the period. Corient Private Wealth LLC’s holdings in Lockheed Martin were worth $131,873,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Virtue Capital Management LLC lifted its position in shares of Lockheed Martin by 112.8% in the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after buying an additional 1,192 shares in the last quarter. Bank of Montreal Can raised its position in Lockheed Martin by 2.1% during the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after purchasing an additional 13,253 shares during the period. Hilltop Holdings Inc. raised its position in Lockheed Martin by 79.9% during the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after purchasing an additional 5,361 shares during the period. Kentucky Retirement Systems Insurance Trust Fund raised its position in Lockheed Martin by 51.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after purchasing an additional 3,247 shares during the period. Finally, Capital Investment Advisors LLC raised its position in Lockheed Martin by 2.2% during the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after purchasing an additional 2,011 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on LMT. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price objective for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Morgan Stanley cut their target price on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Citigroup cut their target price on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. cut their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Finally, Susquehanna cut their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus target price of $554.20.

Lockheed Martin Stock Down 0.2 %

Shares of NYSE LMT opened at $467.07 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The stock has a market capitalization of $109.94 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The stock’s fifty day simple moving average is $461.39 and its two-hundred day simple moving average is $518.51. Lockheed Martin Co. has a 12-month low of $419.70 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating 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 expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.83%. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Insider Activity

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 2,000 shares in the company, valued at $884,840. This trade represents a 61.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value 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 trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,133 shares of company stock worth $3,155,916. Insiders own 0.17% of the company’s stock.

Lockheed Martin Company 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.