Archon Partners LLC Lowers Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Archon Partners LLC cut its position in Lockheed Martin Co. (NYSE:LMT) by 13.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,000 shares of the aerospace company’s stock after selling 5,500 shares during the period. Lockheed Martin accounts for 2.0% of Archon Partners LLC’s investment portfolio, making the stock its 20th largest holding. Archon Partners LLC’s holdings in Lockheed Martin were worth $17,008,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in LMT. Charles Schwab Investment Management Inc. increased its position in shares of Lockheed Martin by 17.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after buying an additional 1,132,461 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Lockheed Martin by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock valued at $2,374,557,000 after purchasing an additional 59,597 shares in the last quarter. Invesco Ltd. boosted its holdings in Lockheed Martin by 17.5% in the fourth quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company’s stock worth $1,035,989,000 after purchasing an additional 318,007 shares during the period. Bank of New York Mellon Corp raised its position in shares of Lockheed Martin by 0.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company’s stock worth $847,361,000 after purchasing an additional 15,085 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Lockheed Martin by 5.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,274,580 shares of the aerospace company’s stock valued at $619,369,000 after purchasing an additional 70,516 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lockheed Martin

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 transaction of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares in the company, valued at $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 through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the sale, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock worth $3,155,916 over the last quarter. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LMT. Royal Bank of Canada downgraded Lockheed Martin from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Wells Fargo & Company lowered their target price on shares of Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Truist Financial assumed coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target on the stock. Melius Research cut shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, Susquehanna lowered their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $539.93.

Lockheed Martin Trading Down 1.2 %

Shares of LMT stock opened at $458.36 on Tuesday. The company has a market capitalization of $107.52 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. 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 Co. has a 12-month low of $418.88 and a 12-month high of $618.95. The firm has a 50 day moving average price of $452.57 and a two-hundred day moving average price of $494.72.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating 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, analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current 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. The ex-dividend date was Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.88%. Lockheed Martin’s dividend payout ratio (DPR) is presently 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.