Altus Wealth Group LLC Sells 63 Shares of Lockheed Martin Co. (NYSE:LMT)
by Michael Walen · The Markets DailyAltus Wealth Group LLC lessened its holdings in Lockheed Martin Co. (NYSE:LMT – Free Report) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,646 shares of the aerospace company’s stock after selling 63 shares during the period. Altus Wealth Group LLC’s holdings in Lockheed Martin were worth $800,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin during the 3rd quarter valued at $26,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin in the fourth quarter valued at about $35,000. Legacy Investment Solutions LLC acquired a new stake in shares of Lockheed Martin during the third quarter valued at about $42,000. Sugar Maple Asset Management LLC bought a new stake in shares of Lockheed Martin during the fourth quarter worth about $47,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Lockheed Martin in the fourth quarter valued at approximately $52,000. Institutional investors and hedge funds own 74.19% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently commented on LMT. Royal Bank of Canada cut their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Susquehanna reduced 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. StockNews.com downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Barclays lowered their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Finally, Morgan Stanley dropped their target price on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus price target of $554.20.
Get Our Latest Report on Lockheed Martin
Lockheed Martin Stock Down 0.2 %
Shares of NYSE:LMT opened at $467.07 on Friday. 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 Co. has a 52-week low of $419.70 and a 52-week high of $618.95. The business’s 50 day simple moving average is $461.39 and its two-hundred day simple moving average is $518.51. The firm has a market cap of $109.94 billion, a P/E ratio of 20.98, a PEG ratio of 2.07 and a beta of 0.43.
Lockheed Martin (NYSE:LMT – Get Free Report) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.
Lockheed Martin Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s payout ratio is presently 59.30%.
Insider Buying and Selling
In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction that occurred 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 directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin 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 transaction, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock worth $3,155,916 in the last quarter. Insiders own 0.17% of the company’s stock.
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.
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