Lockheed Martin Co. (NYSE:LMT) Shares Sold by ProVise Management Group LLC

ProVise Management Group LLC trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 19.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,746 shares of the aerospace company’s stock after selling 3,011 shares during the period. ProVise Management Group LLC’s holdings in Lockheed Martin were worth $6,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LMT. Itau Unibanco Holding S.A. acquired a new position in shares of Lockheed Martin in the third quarter valued at about $26,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin during the 4th quarter worth approximately $35,000. Legacy Investment Solutions LLC acquired a new stake in Lockheed Martin during the 3rd quarter valued at approximately $42,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter worth $47,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Lockheed Martin during the fourth quarter worth $52,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Truist Financial initiated coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target on the stock. Royal Bank of Canada lowered their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Susquehanna dropped their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, January 29th. UBS Group decreased their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $554.20.

Insider Activity at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the 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 completion of the sale, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. This represents a 61.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,133 shares of company stock valued at $3,155,916. 0.14% of the stock is currently owned by insiders.

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $469.33 on Wednesday. The business’s 50 day moving average price is $461.50 and its 200-day moving average price is $516.79. 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 firm has a market capitalization of $110.47 billion, a PE ratio of 21.08, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping the consensus estimate 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, equities research analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given 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 dividend yield of 2.81%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

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.