Quadcap Wealth Management LLC Reduces Position in Lockheed Martin Co. (NYSE:LMT)

Quadcap Wealth Management LLC trimmed its stake in Lockheed Martin Co. (NYSE:LMT) by 0.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,338 shares of the aerospace company’s stock after selling 50 shares during the period. Quadcap Wealth Management LLC’s holdings in Lockheed Martin were worth $3,080,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of LMT. Miracle Mile Advisors LLC grew its position in Lockheed Martin by 61.3% during the 4th quarter. Miracle Mile Advisors LLC now owns 2,372 shares of the aerospace company’s stock worth $1,152,000 after purchasing an additional 901 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at about $145,000. Signal Advisors Wealth LLC boosted its holdings in shares of Lockheed Martin by 9.8% in the fourth quarter. Signal Advisors Wealth LLC now owns 1,011 shares of the aerospace company’s stock valued at $491,000 after acquiring an additional 90 shares in the last quarter. Capstone Wealth Management Group LLC boosted its holdings in shares of Lockheed Martin by 3.5% in the fourth quarter. Capstone Wealth Management Group LLC now owns 1,522 shares of the aerospace company’s stock valued at $739,000 after acquiring an additional 52 shares in the last quarter. Finally, Wynn Capital LLC boosted its holdings in shares of Lockheed Martin by 1.0% in the fourth quarter. Wynn Capital LLC now owns 2,185 shares of the aerospace company’s stock valued at $1,062,000 after acquiring an additional 22 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Melius Research downgraded shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Wells Fargo & Company reduced their price target on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Robert W. Baird upgraded shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price objective for the company in a research note on Wednesday, April 23rd. Morgan Stanley upgraded shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective for the company in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada downgraded shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $541.80.

Lockheed Martin Stock Down 2.5%

Lockheed Martin stock opened at $448.19 on Thursday. The stock has a market cap of $105.01 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.07 and a beta of 0.29. 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 company’s 50-day moving average price is $461.53 and its two-hundred day moving average price is $481.21. Lockheed Martin Co. has a 52 week low of $418.88 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The company had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. On average, analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Monday, June 2nd. Lockheed Martin’s payout ratio is 57.02%.

Insiders Place Their Bets

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 in the company, valued at approximately $884,840. This trade represents a 61.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the firm’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 sale, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $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 sold a total of 7,133 shares of company stock worth $3,155,916 over the last ninety days. 0.14% of the stock is currently owned by company insiders.

Lockheed Martin 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.