Apriem Advisors Has $14.66 Million Stake in Lockheed Martin Co. (NYSE:LMT)

Apriem Advisors reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,174 shares of the aerospace company’s stock after selling 1,816 shares during the period. Lockheed Martin comprises approximately 1.7% of Apriem Advisors’ investment portfolio, making the stock its 16th largest position. Apriem Advisors’ holdings in Lockheed Martin were worth $14,663,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new position in Lockheed Martin in the 3rd quarter worth about $26,000. Capital Performance Advisors LLP bought a new stake in shares of Lockheed Martin during the third quarter worth about $40,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin in the fourth quarter valued at approximately $35,000. Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin in the third quarter valued at approximately $42,000. Finally, Vestor Capital LLC bought a new position in Lockheed Martin in the 3rd quarter valued at approximately $46,000. 74.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LMT shares. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price target for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Citigroup decreased their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. UBS Group cut their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price target 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. Finally, Truist Financial initiated coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $553.67.

Lockheed Martin Stock Down 1.5 %

Shares of NYSE LMT opened at $441.56 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The firm has a market cap of $103.94 billion, a PE ratio of 19.84, a P/E/G ratio of 2.07 and a beta of 0.48. The company’s fifty day simple moving average is $467.23 and its 200 day simple moving average is $526.63. Lockheed Martin Co. has a 12-month low of $419.70 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, sell-side analysts forecast 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 will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.99%. Lockheed Martin’s dividend payout ratio is 59.30%.

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.