First Trust Advisors LP Trims Stake in Lockheed Martin Co. (NYSE:LMT)

First Trust Advisors LP decreased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 475,488 shares of the aerospace company’s stock after selling 30,486 shares during the period. First Trust Advisors LP’s holdings in Lockheed Martin were worth $231,058,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Millstone Evans Group LLC acquired a new position in Lockheed Martin in the fourth quarter valued at $32,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Lockheed Martin in the 4th quarter valued at approximately $34,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin in the fourth quarter valued at approximately $35,000. Redwood Park Advisors LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter worth $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in Lockheed Martin in the 4th quarter valued at $42,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LMT shares. Bank of America downgraded shares of Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their target price for the company from $685.00 to $485.00 in a report on Monday, March 24th. StockNews.com downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. cut their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Susquehanna lowered their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. Finally, Morgan Stanley raised shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $539.93.

Lockheed Martin Price Performance

LMT stock opened at $463.80 on Friday. 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 stock’s 50 day moving average price is $452.24 and its 200 day moving average price is $496.52. The firm has a market cap of $108.79 billion, a P/E ratio of 20.84, a PEG ratio of 2.07 and a beta of 0.39. Lockheed Martin Co. has a 1 year low of $418.88 and a 1 year high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS 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, sell-side 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Insiders Place Their Bets

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,133 shares of company stock valued at $3,155,916. Company insiders own 0.14% of the company’s stock.

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.