Lockheed Martin Co. (NYSE:LMT) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC cut its position in Lockheed Martin Co. (NYSE:LMT) by 7.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,500 shares of the aerospace company’s stock after selling 497 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Lockheed Martin were worth $3,158,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC grew its holdings in Lockheed Martin by 53,784.3% in the 4th quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock worth $600,412,000 after buying an additional 1,233,275 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Lockheed Martin by 17.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after purchasing an additional 1,132,461 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Lockheed Martin by 1,239.6% during the fourth quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock valued at $266,410,000 after purchasing an additional 507,312 shares during the period. Wellington Management Group LLP raised its stake in shares of Lockheed Martin by 8.5% during the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after purchasing an additional 240,306 shares in the last quarter. Finally, FMR LLC lifted its holdings in Lockheed Martin by 6.6% in the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares during the period. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $469.33 on Wednesday. The company has a market capitalization of $110.47 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 1-year low of $419.70 and a 1-year high of $618.95. 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 stock’s fifty day simple moving average is $461.50 and its 200-day simple moving average is $516.79.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data 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 return on equity of 101.47% and a net margin of 7.51%. On average, sell-side analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

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

Analyst Upgrades and Downgrades

LMT has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Truist Financial initiated coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. Susquehanna dropped their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. Royal Bank of Canada lowered their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Finally, 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and a consensus price target of $554.20.

Insider Activity

In other news, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. 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 90 days. 0.14% of the stock is currently owned by company 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.