Altus Wealth Group LLC Trims Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Altus Wealth Group LLC reduced its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 3.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,646 shares of the aerospace company’s stock after selling 63 shares during the quarter. Altus Wealth Group LLC’s holdings in Lockheed Martin were worth $800,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Virtue Capital Management LLC lifted its position in shares of Lockheed Martin by 112.8% during 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 raised its stake in shares of Lockheed Martin by 2.1% during the 3rd 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. boosted its stake in Lockheed Martin by 79.9% in 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 grew its holdings in Lockheed Martin by 51.7% during 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 in the last quarter. Finally, Capital Investment Advisors LLC grew its holdings in Lockheed Martin by 2.2% during the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after buying an additional 2,011 shares in the last quarter. 74.19% of the stock is owned by institutional investors.

Insider Activity at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the sale, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. This represents a 23.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. This trade represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock worth $3,155,916 in the last ninety days. 0.17% of the stock is owned by company insiders.

Lockheed Martin Stock Down 0.2 %

Shares of NYSE LMT opened at $467.07 on Friday. The stock has a market capitalization of $109.94 billion, a P/E ratio of 20.98, a PEG ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95. The firm’s 50 day simple moving average is $461.39 and its two-hundred day simple moving average is $518.51.

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

Lockheed Martin Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently commented on LMT. Truist Financial assumed coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. UBS Group reduced their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Citigroup dropped their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and decreased their target price for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. One equities 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 presently has an average rating of “Moderate Buy” and a consensus target price of $554.20.

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.