Chesapeake Capital Corp IL Cuts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Chesapeake Capital Corp IL lessened its holdings in Lockheed Martin Co. (NYSE:LMT) by 56.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 958 shares of the aerospace company’s stock after selling 1,228 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Lockheed Martin were worth $466,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New England Asset Management Inc. raised its position in Lockheed Martin by 1.0% in the 3rd quarter. New England Asset Management Inc. now owns 18,060 shares of the aerospace company’s stock valued at $10,557,000 after purchasing an additional 175 shares in the last quarter. Aviance Capital Partners LLC boosted its holdings in Lockheed Martin by 0.3% in the third quarter. Aviance Capital Partners LLC now owns 15,718 shares of the aerospace company’s stock valued at $9,188,000 after purchasing an additional 53 shares in the last quarter. Lindenwold Advisors INC increased its stake in Lockheed Martin by 0.9% in the third quarter. Lindenwold Advisors INC now owns 3,338 shares of the aerospace company’s stock valued at $1,951,000 after purchasing an additional 31 shares during the last quarter. Caprock Group LLC boosted its holdings in shares of Lockheed Martin by 6.5% in the 3rd quarter. Caprock Group LLC now owns 7,249 shares of the aerospace company’s stock valued at $4,238,000 after buying an additional 440 shares in the last quarter. Finally, OneAscent Financial Services LLC acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at $354,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

LMT has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Royal Bank of Canada decreased their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company reissued an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Finally, Citigroup decreased 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. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $554.20.

Insider Transactions at Lockheed Martin

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 value of $1,421,495.46. Following the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the company’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 completion of the sale, the vice president now directly owns 2,278 shares of the company’s stock, valued at $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 over the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Lockheed Martin Stock Performance

NYSE:LMT opened at $469.33 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The firm has a 50-day moving average price of $461.50 and a two-hundred day moving average price of $516.79. Lockheed Martin Co. has a twelve month low of $419.70 and a twelve month high of $618.95. The company has a market capitalization of $110.47 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data 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%. As a group, research analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

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

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.