Patrick Mauro Investment Advisor INC. Cuts Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Patrick Mauro Investment Advisor INC. lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,237 shares of the aerospace company’s stock after selling 311 shares during the quarter. Lockheed Martin comprises approximately 5.1% of Patrick Mauro Investment Advisor INC.’s holdings, making the stock its 5th largest position. Patrick Mauro Investment Advisor INC.’s holdings in Lockheed Martin were worth $8,862,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in LMT. Charles Schwab Investment Management Inc. raised its holdings in Lockheed Martin by 17.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after acquiring an additional 1,132,461 shares during the period. Geode Capital Management LLC lifted its stake in shares of Lockheed Martin by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock valued at $2,374,557,000 after buying an additional 59,597 shares during the period. Northern Trust Corp grew its position in Lockheed Martin by 6.3% during the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock worth $1,098,667,000 after buying an additional 134,662 shares in the last quarter. Invesco Ltd. increased its stake in Lockheed Martin by 17.5% during the fourth quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company’s stock valued at $1,035,989,000 after acquiring an additional 318,007 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Lockheed Martin by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company’s stock valued at $847,361,000 after purchasing an additional 15,085 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Down 1.2%

Lockheed Martin stock opened at $470.35 on Thursday. The firm has a market capitalization of $110.20 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 2.07 and a beta of 0.29. The company’s 50 day simple moving average is $461.64 and its 200 day simple moving average is $478.52. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. Lockheed Martin Co. has a fifty-two week low of $418.88 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The company had revenue of $17.96 billion for the quarter, compared to analysts’ expectations of $17.83 billion. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.81%. Lockheed Martin’s dividend payout ratio (DPR) is currently 57.02%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LMT. Melius cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Jefferies Financial Group lowered their target price on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Monday, April 28th. Susquehanna dropped their price objective 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. Wells Fargo & Company dropped their price objective on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Finally, Robert W. Baird raised shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 target price on the stock in a research note on Wednesday, April 23rd. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $541.80.

Insider Transactions at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the company’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 completion of the transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This represents a 23.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the 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 transaction, the insider now owns 2,000 shares of the company’s stock, 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 have sold a total of 7,133 shares of company stock valued at $3,155,916 over the last 90 days. 0.14% of the stock is owned by company insiders.

Lockheed Martin 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.