Moran Wealth Management LLC Sells 2,790 Shares of Lockheed Martin Co. (NYSE:LMT)

Moran Wealth Management LLC lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,126 shares of the aerospace company's stock after selling 2,790 shares during the quarter. Lockheed Martin makes up about 1.6% of Moran Wealth Management LLC's portfolio, making the stock its 6th biggest position. Moran Wealth Management LLC's holdings in Lockheed Martin were worth $51,085,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Lockheed Martin in the third quarter valued at approximately $40,000. Assetmark Inc. lifted its holdings in shares of Lockheed Martin by 1.3% during the 3rd quarter. Assetmark Inc. now owns 1,470 shares of the aerospace company's stock valued at $859,000 after purchasing an additional 19 shares during the last quarter. Lindbrook Capital LLC boosted its position in shares of Lockheed Martin by 1.5% in the 3rd quarter. Lindbrook Capital LLC now owns 1,877 shares of the aerospace company's stock worth $1,097,000 after purchasing an additional 28 shares in the last quarter. Tompkins Financial Corp grew its stake in Lockheed Martin by 36.3% during the 3rd quarter. Tompkins Financial Corp now owns 154 shares of the aerospace company's stock worth $90,000 after buying an additional 41 shares during the last quarter. Finally, Essex Savings Bank increased its position in Lockheed Martin by 15.2% during the 3rd quarter. Essex Savings Bank now owns 3,336 shares of the aerospace company's stock valued at $1,950,000 after buying an additional 440 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

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Lockheed Martin Stock Performance

Shares of LMT traded down $7.54 during mid-day trading on Tuesday, reaching $471.63. The company had a trading volume of 980,198 shares, compared to its average volume of 1,118,064. The stock has a market capitalization of $111.01 billion, a P/E ratio of 21.20, a PEG ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95. The stock has a 50 day moving average of $462.79 and a two-hundred day moving average of $520.80. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping the consensus estimate 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, analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued 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 yield of 2.80%. Lockheed Martin's payout ratio is 59.30%.

Analyst Ratings Changes

Several brokerages have weighed in on LMT. Citigroup lowered their price target on Lockheed Martin from $700.00 to $600.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating and dropped their target price for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. Barclays cut their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating on the stock in a research note on Monday, January 6th. Morgan Stanley lowered their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their target price on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $554.20.

Insiders Place Their Bets

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction dated 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 transaction, the insider now owns 2,000 shares in the company, valued at $884,840. The trade was a 61.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 2,278 shares in the company, 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 quarter, insiders sold 7,133 shares of company stock worth $3,155,916. Company insiders own 0.17% of the company's stock.

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.