GLOBALT Investments LLC GA Cuts Stock Position in Lockheed Martin Co. (NYSE:LMT)

GLOBALT Investments LLC GA cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,153 shares of the aerospace company’s stock after selling 139 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Lockheed Martin were worth $5,420,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in LMT. Itau Unibanco Holding S.A. purchased a new stake in shares of Lockheed Martin in the third quarter valued at approximately $26,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $35,000. Legacy Investment Solutions LLC purchased a new stake in shares of Lockheed Martin in the third quarter valued at approximately $42,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $47,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $52,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

NYSE:LMT opened at $467.07 on Monday. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The company has a market capitalization of $109.94 billion, a P/E ratio of 20.98, a P/E/G ratio of 2.07 and a beta of 0.43. The stock’s fifty day moving average is $461.39 and its two-hundred day moving average is $518.19.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Equities analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.83%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Insider Buying and Selling at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the business’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 sale, the vice president now owns 2,278 shares in the company, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock worth $3,155,916 over the last quarter. 0.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LMT shares. Morgan Stanley lowered their price target 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. Barclays lowered their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Citigroup lowered their price target 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. Finally, Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $554.20.

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.