Creekmur Asset Management LLC Decreases Stock Position in Lockheed Martin Co. (NYSE:LMT)

Creekmur Asset Management LLC lessened its position in Lockheed Martin Co. (NYSE:LMT - Free Report) by 68.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 296 shares of the aerospace company's stock after selling 636 shares during the period. Creekmur Asset Management LLC's holdings in Lockheed Martin were worth $144,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LMT. Proficio Capital Partners LLC grew its stake in 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 worth $600,412,000 after purchasing an additional 1,233,275 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Lockheed Martin by 17.9% in 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 in the last quarter. Van ECK Associates Corp grew 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 last quarter. Wellington Management Group LLP increased its stake in Lockheed Martin by 8.5% during 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 in the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in shares of Lockheed Martin in the fourth quarter worth approximately $77,376,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

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Analyst Ratings Changes

Several brokerages recently weighed in on LMT. Melius downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a "buy" rating to a "hold" rating and decreased their price target for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. UBS Group dropped their price objective on Lockheed Martin from $527.00 to $508.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their target price on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. Finally, Bank of America downgraded shares of Lockheed Martin from a "buy" rating to a "neutral" rating and dropped their price target for the company from $685.00 to $485.00 in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $539.53.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock traded up $4.28 on Wednesday, hitting $452.92. 1,268,982 shares of the company's stock were exchanged, compared to its average volume of 1,211,514. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95. The company has a 50-day simple moving average of $453.52 and a 200-day simple moving average of $507.80. 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 has a market capitalization of $106.61 billion, a PE ratio of 20.35, a PEG ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly 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 return on equity of 101.47% and a net margin of 7.51%. As a group, equities analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin's payout ratio is 59.30%.

Insiders Place Their Bets

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares of the company's stock, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 completion of the sale, the vice president now owns 2,278 shares of the company's stock, 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 a total of 7,133 shares of company stock worth $3,155,916 over the last three months. 0.17% 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.