Kovitz Investment Group Partners LLC Has $13.85 Million Position in Lockheed Martin Co. (NYSE:LMT)

Kovitz Investment Group Partners LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT - Free Report) by 24.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,494 shares of the aerospace company's stock after selling 9,418 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Lockheed Martin were worth $13,847,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new stake in Lockheed Martin during the 4th quarter worth about $32,000. Mizuho Securities Co. Ltd. acquired a new stake in Lockheed Martin during the 4th quarter worth about $34,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin during the 4th quarter worth about $35,000. Redwood Park Advisors LLC acquired a new stake in Lockheed Martin during the 4th quarter worth about $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Lockheed Martin during the 4th quarter worth about $42,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Down 0.2 %

Shares of Lockheed Martin stock traded down $1.14 during midday trading on Monday, reaching $476.50. 1,159,722 shares of the company's stock traded hands, compared to its average volume of 1,252,496. The company has a market cap of $111.64 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. The company's 50 day simple moving average is $455.79 and its 200 day simple moving average is $490.90. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. 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 released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating analysts' consensus estimates of $6.34 by $0.94. The business had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Equities analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were issued a $3.30 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.77%. Lockheed Martin's dividend payout ratio (DPR) is presently 57.02%.

Analysts Set New Price Targets

Several analysts have issued reports on LMT shares. Bank of America downgraded Lockheed Martin from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating and reduced their price target for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. Royal Bank of Canada downgraded shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and lowered their price objective for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Susquehanna cut their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a "positive" rating for the company in a research report on Wednesday, January 29th. Finally, Truist Financial started coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They issued a "buy" rating and a $579.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $544.79.

Insider Buying and Selling

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the firm's 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 sale, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 transaction of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock worth $3,155,916 in the last quarter. 0.14% of the stock is currently owned by company insiders.

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.