Main Street Financial Solutions LLC Sells 1,737 Shares of Lockheed Martin Co. (NYSE:LMT)

Main Street Financial Solutions LLC decreased its holdings in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 44.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,166 shares of the aerospace company's stock after selling 1,737 shares during the quarter. Main Street Financial Solutions LLC's holdings in Lockheed Martin were worth $1,053,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in shares of Lockheed Martin by 51.7% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company's stock worth $4,630,000 after acquiring an additional 3,247 shares during the period. Capital Investment Advisors LLC raised its position in Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company's stock worth $44,770,000 after purchasing an additional 2,011 shares during the last quarter. Brady Martz Wealth Solutions LLC acquired a new position in shares of Lockheed Martin during the fourth quarter valued at $1,266,000. World Investment Advisors LLC lifted its position in Lockheed Martin by 55.1% during the 3rd quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company's stock valued at $3,781,000 after purchasing an additional 2,297 shares during the period. Finally, Private Advisor Group LLC boosted its stake in Lockheed Martin by 11.0% in the fourth quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company's stock valued at $24,906,000 after acquiring an additional 5,075 shares during the last quarter. Institutional investors own 74.19% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LMT shares. Royal Bank of Canada lowered Lockheed Martin from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from $550.00 to $480.00 in a research report on Thursday, March 27th. Bank of America downgraded Lockheed Martin from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Truist Financial began coverage on Lockheed Martin in a report on Tuesday, January 14th. They set a "buy" rating and a $579.00 price objective on the stock. UBS Group lowered their target price on Lockheed Martin from $527.00 to $508.00 and set a "neutral" rating for the company in a research note on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a "buy" rating to a "hold" rating and reduced their price target for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $539.93.

Insiders Place Their Bets

In other news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now owns 2,278 shares of the company's stock, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 directly owns 2,000 shares in the company, valued at approximately $884,840. This trade represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock valued at $3,155,916 over the last 90 days. Insiders own 0.14% of the company's stock.

Lockheed Martin Stock Performance

Shares of LMT traded down $7.82 during trading hours on Monday, hitting $456.26. The company's stock had a trading volume of 375,614 shares, compared to its average volume of 1,241,552. The company has a market cap of $107.03 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 2.07 and a beta of 0.39. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The business has a 50 day simple moving average of $452.24 and a two-hundred day simple moving average of $495.75. 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 posted its 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 return on equity of 101.47% and a net margin of 7.51%. On average, equities analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were given a dividend of $3.30 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.89%. Lockheed Martin's payout ratio is 59.30%.

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.