Goldstream Capital Management Ltd Lowers Stake in Lockheed Martin Co. (NYSE:LMT)

Goldstream Capital Management Ltd reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 61.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 669 shares of the aerospace company's stock after selling 1,058 shares during the period. Goldstream Capital Management Ltd's holdings in Lockheed Martin were worth $325,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Millstone Evans Group LLC bought a new stake in Lockheed Martin in the fourth quarter worth $32,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Lockheed Martin in the 4th quarter valued at about $34,000. Heck Capital Advisors LLC purchased a new stake in Lockheed Martin during the 4th quarter valued at about $35,000. Redwood Park Advisors LLC bought a new position in Lockheed Martin during the 4th quarter worth approximately $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in Lockheed Martin in the 4th quarter worth approximately $42,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on LMT shares. Bank of America downgraded shares of Lockheed Martin from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating and dropped their target price for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. reduced their price target on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. Morgan Stanley upgraded Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective on the stock in a research report on Wednesday, April 16th. Finally, Barclays dropped their price target on Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $539.93.

Insiders Place Their Bets

In other news, 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 completion of the sale, the insider now directly owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction 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 owns 2,278 shares in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.14% of the company's stock.

Lockheed Martin Stock Down 2.8 %

Lockheed Martin stock opened at $463.80 on Monday. Lockheed Martin Co. has a 12 month low of $418.88 and a 12 month high of $618.95. The stock has a fifty day simple moving average of $452.24 and a two-hundred day simple moving average of $495.75. 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 firm has a market cap of $108.79 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its 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 net margin of 7.51% and a return on equity of 101.47%. Equities analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal 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 issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin's dividend payout ratio is 59.30%.

Lockheed Martin Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.