Laffer Tengler Investments Inc. Cuts Position in Lockheed Martin Co. (NYSE:LMT)

Laffer Tengler Investments Inc. lessened its position in Lockheed Martin Co. (NYSE:LMT) by 82.8% during the fourth quarter, Holdings Channel reports. The fund owned 1,198 shares of the aerospace company’s stock after selling 5,765 shares during the period. Laffer Tengler Investments Inc.’s holdings in Lockheed Martin were worth $582,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LMT. Assetmark Inc. raised its position in shares of Lockheed Martin by 1.3% during the 3rd quarter. Assetmark Inc. now owns 1,470 shares of the aerospace company’s stock valued at $859,000 after buying an additional 19 shares in the last quarter. Klingman & Associates LLC raised its position in Lockheed Martin by 1.1% during the third quarter. Klingman & Associates LLC now owns 1,729 shares of the aerospace company’s stock valued at $1,011,000 after purchasing an additional 19 shares during the period. Platform Technology Partners lifted its stake in shares of Lockheed Martin by 0.5% in the 3rd quarter. Platform Technology Partners now owns 4,122 shares of the aerospace company’s stock valued at $2,409,000 after purchasing an additional 19 shares during the last quarter. Vinva Investment Management Ltd lifted its stake in shares of Lockheed Martin by 3.0% in the 3rd quarter. Vinva Investment Management Ltd now owns 656 shares of the aerospace company’s stock valued at $382,000 after purchasing an additional 19 shares during the last quarter. Finally, Sittner & Nelson LLC boosted its stake in Lockheed Martin by 4.5% during the third quarter. Sittner & Nelson LLC now owns 467 shares of the aerospace company’s stock worth $273,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.6 %

NYSE LMT opened at $449.11 on Wednesday. The company’s 50-day simple moving average is $464.31 and its two-hundred day simple moving average is $523.28. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95. The company has a market capitalization of $105.71 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. 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 issued its quarterly earnings data 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%. Equities analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid 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 is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is currently 59.30%.

Analysts Set New Price Targets

Several equities analysts recently commented on LMT shares. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. Barclays reduced their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. UBS Group decreased their price target 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. Wells Fargo & Company cut their price objective on Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. decreased their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $553.67.

Insider Activity at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred 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 owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin 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 transaction, the insider now directly owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % 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 valued at $3,155,916 over the last quarter. 0.17% of the stock is owned by corporate insiders.

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.