Archon Partners LLC Sells 5,500 Shares of Lockheed Martin Co. (NYSE:LMT)

Archon Partners LLC trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 13.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,000 shares of the aerospace company's stock after selling 5,500 shares during the quarter. Lockheed Martin comprises 2.0% of Archon Partners LLC's portfolio, making the stock its 20th biggest holding. Archon Partners LLC's holdings in Lockheed Martin were worth $17,008,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Proficio Capital Partners LLC grew its position in shares of Lockheed Martin by 53,784.3% in 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 purchasing an additional 1,233,275 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 valued at $3,630,492,000 after purchasing an additional 1,132,461 shares during the period. Van ECK Associates Corp grew its holdings in Lockheed Martin by 1,239.6% in the 4th quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company's stock valued at $266,410,000 after buying an additional 507,312 shares during the last quarter. Capital Research Global Investors acquired a new stake in Lockheed Martin in the 4th quarter valued at approximately $229,987,000. Finally, Demars Financial Group LLC lifted its holdings in shares of Lockheed Martin by 47,002.5% during the fourth quarter. Demars Financial Group LLC now owns 433,343 shares of the aerospace company's stock worth $210,579,000 after buying an additional 432,423 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Susquehanna dropped their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a "positive" rating on the stock in a research report on Wednesday, January 29th. Truist Financial began coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a "buy" rating and a $579.00 price objective for the company. Citigroup reduced their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. Melius Research lowered Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, Morgan Stanley upgraded Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective for the company in a research report on Wednesday, April 16th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $544.79.

Insider Activity

In related news, VP Harry Edward Paul III sold 707 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares of the company's stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company'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 transaction, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.14% of the stock is owned by corporate insiders.

Lockheed Martin Price Performance

Shares of NYSE LMT traded up $11.01 during midday trading on Friday, reaching $477.82. 1,521,067 shares of the company traded hands, compared to its average volume of 1,249,996. Lockheed Martin Co. has a 12 month low of $418.88 and a 12 month high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The stock's 50-day simple moving average is $454.80 and its 200-day simple moving average is $493.33. The firm has a market cap of $112.08 billion, a PE ratio of 21.47, a PEG ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) 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 firm had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. As a group, equities analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were paid a $3.30 dividend. The ex-dividend date was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.76%. Lockheed Martin's dividend payout ratio (DPR) is presently 57.02%.

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.