Lockheed Martin Co. (NYSE:LMT) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC cut its stake in Lockheed Martin Co. (NYSE:LMT) by 1.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 17,332 shares of the aerospace company’s stock after selling 277 shares during the period. HBK Sorce Advisory LLC’s holdings in Lockheed Martin were worth $8,422,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Virtue Capital Management LLC raised its holdings in Lockheed Martin by 112.8% in the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after buying an additional 1,192 shares during the period. Bank of Montreal Can raised its holdings in Lockheed Martin by 2.1% in the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after buying an additional 13,253 shares during the period. Hilltop Holdings Inc. raised its holdings in Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after buying an additional 5,361 shares during the period. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in Lockheed Martin by 51.7% in the fourth 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 during the period. Finally, Capital Investment Advisors LLC raised its holdings in Lockheed Martin by 2.2% in the fourth 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 during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LMT shares. Susquehanna dropped their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley dropped their price objective 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. UBS Group dropped their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Barclays dropped their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, Royal Bank of Canada dropped their price objective on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $554.20.

Insider Buying and Selling at Lockheed Martin

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 value 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 approximately $884,840. This represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 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. This represents 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 over the last 90 days. Insiders own 0.17% of the company’s stock.

Lockheed Martin Trading Down 1.6 %

NYSE:LMT opened at $461.47 on Thursday. 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 fifty-two week low of $419.70 and a fifty-two week high of $618.95. The stock’s 50-day moving average is $461.97 and its two-hundred day moving average is $519.79. The stock has a market cap of $108.62 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating the consensus estimate 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, equities research analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share 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. Shareholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.86%. Lockheed Martin’s payout ratio is currently 59.30%.

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.