Pictet Asset Management Holding SA Cuts Stake in Lockheed Martin Co. (NYSE:LMT)

Pictet Asset Management Holding SA lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 4.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 28,072 shares of the aerospace company’s stock after selling 1,440 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Lockheed Martin were worth $13,641,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in shares of Lockheed Martin during the 3rd quarter valued at about $26,000. Millstone Evans Group LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth about $32,000. Mizuho Securities Co. Ltd. bought a new position in Lockheed Martin during the fourth quarter valued at approximately $34,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin during the 4th quarter valued at approximately $35,000. Finally, Legacy Investment Solutions LLC bought a new stake in Lockheed Martin in the 3rd quarter worth approximately $42,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

LMT opened at $448.39 on Wednesday. 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 business has a fifty day moving average of $454.45 and a 200 day moving average of $508.19. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95. The stock has a market cap of $105.55 billion, a P/E ratio of 20.14, a PEG 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 earnings per share (EPS) for the quarter, beating 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, sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Analyst Ratings Changes

A number of research analysts recently weighed in on LMT shares. JPMorgan Chase & Co. cut their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Wells Fargo & Company reissued an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. Royal Bank of Canada cut shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Morgan Stanley decreased their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Lockheed Martin has an average rating of “Hold” and a consensus target price of $539.53.

Insider Activity

In other news, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s 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 directly owns 2,000 shares of the company’s stock, valued at $884,840. The trade was a 61.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,133 shares of company stock valued at $3,155,916. Corporate insiders own 0.17% 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.