Forum Financial Management LP Cuts Stake in Lockheed Martin Co. (NYSE:LMT)

Forum Financial Management LP trimmed its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 23.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,405 shares of the aerospace company's stock after selling 1,066 shares during the quarter. Forum Financial Management LP's holdings in Lockheed Martin were worth $1,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in LMT. Kentucky Retirement Systems Insurance Trust Fund raised its stake in Lockheed Martin by 51.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company's stock worth $4,630,000 after buying an additional 3,247 shares during the last quarter. Capital Investment Advisors LLC boosted its holdings in shares of Lockheed Martin by 2.2% during the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company's stock worth $44,770,000 after buying an additional 2,011 shares in the last quarter. Brady Martz Wealth Solutions LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter worth approximately $1,266,000. World Investment Advisors LLC lifted its position in shares of Lockheed Martin by 55.1% during the 3rd quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company's stock valued at $3,781,000 after acquiring an additional 2,297 shares during the period. Finally, Private Advisor Group LLC grew its stake in shares of Lockheed Martin by 11.0% in the 4th quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company's stock valued at $24,906,000 after buying an additional 5,075 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Insider Transactions at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction 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 sale, the insider now directly owns 2,000 shares of the company's stock, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin 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 completion of the sale, the vice president now owns 2,278 shares of the company's stock, valued at $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 valued at $3,155,916 in the last quarter. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LMT shares. JPMorgan Chase & Co. cut their target price on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. Wells Fargo & Company dropped their price target on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a "buy" rating to a "hold" rating and cut their target price for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Truist Financial began coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They set a "buy" rating and a $579.00 price objective on the stock. Finally, Morgan Stanley raised 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 report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $539.93.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded up $3.35 during trading on Tuesday, hitting $461.68. 2,597,392 shares of the stock traded hands, compared to its average volume of 1,252,493. The stock has a market cap of $108.30 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 2.07 and a beta of 0.39. The firm's fifty day moving average is $452.57 and its 200-day moving average is $494.72. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 52 week low of $418.88 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $17.83 billion. Research analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business 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 2.86%. Lockheed Martin's dividend payout ratio is currently 59.30%.

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.