Modera Wealth Management LLC Sells 2,856 Shares of Lockheed Martin Co. (NYSE:LMT)

Modera Wealth Management LLC lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 8.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,670 shares of the aerospace company's stock after selling 2,856 shares during the period. Modera Wealth Management LLC's holdings in Lockheed Martin were worth $15,876,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of LMT. Itau Unibanco Holding S.A. acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at about $26,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin in the 4th quarter valued at about $35,000. Capital Performance Advisors LLP acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at about $40,000. Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at about $42,000. Finally, Vestor Capital LLC acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at about $46,000. Institutional investors and hedge funds own 74.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on LMT shares. JPMorgan Chase & Co. dropped 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. Citigroup lowered their price target on Lockheed Martin from $700.00 to $600.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. StockNews.com cut Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Truist Financial started coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a "buy" rating and a $579.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a "buy" rating to a "hold" rating and lowered their price target for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $553.67.

Insider Activity

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin 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 completion of the transaction, the insider now directly owns 2,000 shares of the company's stock, valued at approximately $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 directly owns 2,278 shares of the company's stock, valued at approximately $1,008,265.58. The trade was 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 sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is owned by company insiders.

Lockheed Martin Stock Performance

Lockheed Martin stock traded up $3.73 during trading hours on Friday, reaching $450.19. 1,432,091 shares of the company were exchanged, compared to its average volume of 1,574,859. The firm has a market cap of $105.97 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 2.07 and a beta of 0.48. 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 stock has a 50-day moving average of $465.79 and a 200 day moving average of $524.83. Lockheed Martin Co. has a 12 month low of $419.70 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced 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 anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.93%. 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.