Asset Dedication LLC Lowers Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Asset Dedication LLC cut its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 17.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,735 shares of the aerospace company's stock after selling 566 shares during the period. Asset Dedication LLC's holdings in Lockheed Martin were worth $1,329,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in shares of Lockheed Martin during the third quarter valued at about $26,000. Mattson Financial Services LLC bought a new position in shares of Lockheed Martin during the 2nd quarter worth approximately $27,000. Burkett Financial Services LLC purchased a new position in shares of Lockheed Martin in the 3rd quarter worth approximately $32,000. Capital Performance Advisors LLP purchased a new stake in shares of Lockheed Martin during the third quarter valued at approximately $40,000. Finally, Legacy Investment Solutions LLC bought a new stake in Lockheed Martin during the third quarter worth $42,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded down $3.27 during midday trading on Wednesday, reaching $454.18. 2,379,864 shares of the company traded hands, compared to its average volume of 1,422,883. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The firm's fifty day moving average price is $497.18 and its two-hundred day moving average price is $537.55. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm has a market capitalization of $107.66 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. On average, equities analysts expect that Lockheed Martin Co. will post 26.89 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. Investors of record on Monday, March 3rd will be given a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.91%. Lockheed Martin's dividend payout ratio (DPR) is presently 59.30%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LMT shares. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a "buy" rating to a "hold" rating and reduced their price objective for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. Truist Financial initiated coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They set a "buy" rating and a $579.00 price objective for the company. StockNews.com cut shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 3rd. Robert W. Baird raised their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company dropped their price objective on Lockheed Martin from $543.00 to $500.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $556.13.

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.