Cobblestone Capital Advisors LLC NY Reduces Position in Lockheed Martin Co. (NYSE:LMT)

Cobblestone Capital Advisors LLC NY lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 2.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,888 shares of the aerospace company’s stock after selling 97 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Lockheed Martin were worth $1,889,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. abrdn plc boosted its holdings in shares of Lockheed Martin by 14.8% in the third quarter. abrdn plc now owns 21,036 shares of the aerospace company’s stock worth $12,240,000 after acquiring an additional 2,707 shares during the period. Financial Advocates Investment Management increased its position in shares of Lockheed Martin by 6.7% during the third quarter. Financial Advocates Investment Management now owns 2,943 shares of the aerospace company’s stock valued at $1,720,000 after buying an additional 186 shares during the period. LCM Capital Management Inc increased its position in shares of Lockheed Martin by 0.7% during the third quarter. LCM Capital Management Inc now owns 3,779 shares of the aerospace company’s stock valued at $2,209,000 after buying an additional 25 shares during the period. Pacific Wealth Strategies Group Inc. lifted its holdings in shares of Lockheed Martin by 3.9% in the third quarter. Pacific Wealth Strategies Group Inc. now owns 2,998 shares of the aerospace company’s stock worth $1,753,000 after buying an additional 113 shares in the last quarter. Finally, Stephens Inc. AR boosted its position in shares of Lockheed Martin by 2.6% in the third quarter. Stephens Inc. AR now owns 31,911 shares of the aerospace company’s stock valued at $18,654,000 after acquiring an additional 805 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Buying and Selling

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63 % decrease in their ownership of the stock. The transaction 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 Lockheed Martin 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock worth $3,155,916 in the last ninety days. 0.17% of the stock is owned by insiders.

Lockheed Martin Trading Up 0.8 %

Shares of LMT opened at $450.19 on Friday. Lockheed Martin Co. has a fifty-two week low of $419.70 and a fifty-two week high of $618.95. The firm has a market cap of $105.97 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 2.07 and a beta of 0.48. The firm has a 50 day moving average price of $465.79 and a 200-day moving average price of $525.34. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT) last posted its quarterly 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 net margin of 7.51% and a return on equity of 101.47%. As a group, equities research analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current 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 dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.93%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Analysts Set New Price Targets

LMT has been the topic of several recent analyst reports. Morgan Stanley lowered their target price on shares of 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. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. Barclays reduced their target price on 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. Citigroup lowered their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Finally, UBS Group cut their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and a consensus target price of $553.67.

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.