Wedbush Securities Inc. Sells 555 Shares of Lockheed Martin Co. (NYSE:LMT)

Wedbush Securities Inc. lowered its stake in Lockheed Martin Co. (NYSE:LMT) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,912 shares of the aerospace company’s stock after selling 555 shares during the period. Wedbush Securities Inc.’s holdings in Lockheed Martin were worth $4,331,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Proficio Capital Partners LLC lifted its stake in shares of Lockheed Martin by 53,784.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock valued at $600,412,000 after acquiring an additional 1,233,275 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Lockheed Martin by 17.9% during the 4th 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 during the last quarter. Van ECK Associates Corp lifted its position in Lockheed Martin by 1,239.6% during the 4th 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 boosted its stake in shares of Lockheed Martin by 8.5% in the 3rd 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 during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter worth approximately $77,376,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

NYSE LMT opened at $432.72 on Friday. The firm has a market capitalization of $101.50 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. 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’s fifty day moving average price is $451.38 and its two-hundred day moving average price is $506.46. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95.

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 the consensus estimate 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, research analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Insider Buying and Selling at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction 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 in the company, valued at $884,840. The trade was a 61.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now owns 2,278 shares in the company, 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 in the last quarter. 0.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

LMT has been the topic of several analyst reports. Susquehanna cut their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, January 29th. Bank of America downgraded shares of Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their target price for the company from $685.00 to $485.00 in a research note on Monday, March 24th. Melius lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. JPMorgan Chase & Co. dropped their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Finally, Truist Financial started coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $539.53.

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.