Focused Investors LLC Reduces Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Focused Investors LLC cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 173,500 shares of the aerospace company’s stock after selling 1,000 shares during the period. Lockheed Martin comprises approximately 2.7% of Focused Investors LLC’s investment portfolio, making the stock its 22nd biggest holding. Focused Investors LLC’s holdings in Lockheed Martin were worth $84,311,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in LMT. King Luther Capital Management Corp lifted its holdings in Lockheed Martin by 1.1% in the third quarter. King Luther Capital Management Corp now owns 7,652 shares of the aerospace company’s stock valued at $4,473,000 after acquiring an additional 85 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Lockheed Martin by 9.1% in the 3rd quarter. Pacer Advisors Inc. now owns 27,577 shares of the aerospace company’s stock valued at $16,120,000 after purchasing an additional 2,298 shares during the period. First County Bank CT acquired a new stake in Lockheed Martin during the third quarter valued at $257,000. CFS Investment Advisory Services LLC grew its position in Lockheed Martin by 59.2% during the third quarter. CFS Investment Advisory Services LLC now owns 1,070 shares of the aerospace company’s stock valued at $625,000 after buying an additional 398 shares during the period. Finally, Meridian Wealth Management LLC purchased a new position in Lockheed Martin in the third quarter valued at $2,786,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LMT has been the subject of a number of analyst reports. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. UBS Group reduced their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. Truist Financial initiated coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target on the stock. Barclays reduced 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. Finally, Royal Bank of Canada dropped their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $554.20.

Insiders Place Their Bets

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction dated 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now directly 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 disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock valued at $3,155,916 in the last ninety days. Insiders own 0.14% of the company’s stock.

Lockheed Martin Trading Down 5.7 %

NYSE LMT opened at $440.26 on Friday. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95. The firm has a 50 day moving average of $460.94 and a two-hundred day moving average of $514.87. 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 stock has a market capitalization of $103.63 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

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

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

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.