ProVise Management Group LLC Cuts Stock Position in Lockheed Martin Co. (NYSE:LMT)

ProVise Management Group LLC decreased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 19.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,746 shares of the aerospace company’s stock after selling 3,011 shares during the period. ProVise Management Group LLC’s holdings in Lockheed Martin were worth $6,194,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LMT. Virtue Capital Management LLC grew its stake 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 acquiring an additional 1,192 shares in the last quarter. Bank of Montreal Can increased its holdings in Lockheed Martin by 2.1% during the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after purchasing an additional 13,253 shares during the period. Hilltop Holdings Inc. increased its holdings in Lockheed Martin by 79.9% during the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after purchasing an additional 5,361 shares during the period. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in shares of Lockheed Martin by 51.7% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after buying an additional 3,247 shares during the period. Finally, Capital Investment Advisors LLC grew its position in shares of Lockheed Martin by 2.2% during the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock worth $44,770,000 after buying an additional 2,011 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LMT shares. Truist Financial initiated coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price 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 for the company in a research report on Monday, January 6th. UBS Group dropped their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $554.20.

Lockheed Martin Stock Performance

Shares of LMT opened at $469.33 on Wednesday. The firm has a market cap of $110.47 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company’s 50 day simple moving average is $461.50 and its 200-day simple moving average is $516.79. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 12-month low of $419.70 and a 12-month high of $618.95.

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

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Insider Buying and Selling

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock worth $3,155,916 in the last 90 days. Company insiders own 0.14% of the company’s stock.

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.