Bedell Frazier Investment Counselling LLC Sells 4,943 Shares of Lockheed Martin Co. (NYSE:LMT)

Bedell Frazier Investment Counselling LLC reduced its position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 17.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 23,081 shares of the aerospace company's stock after selling 4,943 shares during the quarter. Lockheed Martin comprises approximately 2.8% of Bedell Frazier Investment Counselling LLC's holdings, making the stock its 7th largest holding. Bedell Frazier Investment Counselling LLC's holdings in Lockheed Martin were worth $11,216,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Proficio Capital Partners LLC grew its stake in shares of Lockheed Martin by 53,784.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company's stock valued at $600,412,000 after buying an additional 1,233,275 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Lockheed Martin by 17.9% during the fourth 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 during the last quarter. Van ECK Associates Corp lifted its holdings 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 buying an additional 507,312 shares in the last quarter. Wellington Management Group LLP boosted its position in Lockheed Martin by 8.5% in 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 buying an additional 240,306 shares during the period. Finally, Strategic Financial Concepts LLC bought a new position in Lockheed Martin in the 4th quarter worth about $77,376,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the business's stock in a transaction 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 transaction, the vice president now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm'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 of the company's stock, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,133 shares of company stock worth $3,155,916. Corporate insiders own 0.17% of the company's stock.

Wall Street Analyst Weigh In

LMT has been the subject of a number of research reports. Barclays lowered their price objective on shares of 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. Morgan Stanley decreased their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. Bank of America lowered Lockheed Martin from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $685.00 to $485.00 in a report on Monday, March 24th. Finally, Melius lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $539.53.

Lockheed Martin Price Performance

Lockheed Martin stock traded up $4.28 during trading on Wednesday, reaching $452.92. The company had a trading volume of 1,267,303 shares, compared to its average volume of 1,210,024. 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 firm's 50-day simple moving average is $454.45 and its 200 day simple moving average is $508.19. The firm has a market capitalization of $106.61 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 1-year low of $419.70 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating analysts' consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were paid a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.91%. The ex-dividend date was Monday, March 3rd. Lockheed Martin's dividend payout ratio is currently 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.