Beacon Pointe Advisors LLC Sells 147 Shares of Lockheed Martin Co. (NYSE:LMT)

Beacon Pointe Advisors LLC lowered its position in shares of Lockheed Martin Co. (NYSE:LMT) by 0.3% in the 4th quarter, HoldingsChannel reports. The firm owned 54,847 shares of the aerospace company’s stock after selling 147 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Lockheed Martin were worth $26,652,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price objective for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Baird R W raised Lockheed Martin from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Wells Fargo & Company lowered their target price on shares of Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Finally, Truist Financial started 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 for the company. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $544.79.

Lockheed Martin Stock Performance

Shares of LMT opened at $477.82 on Monday. Lockheed Martin Co. has a 52 week low of $418.88 and a 52 week high of $618.95. 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 stock has a market cap of $112.08 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 2.07 and a beta of 0.39. The business has a 50-day simple moving average of $455.79 and a two-hundred day simple moving average of $490.90.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping the consensus estimate of $6.34 by $0.94. The company had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were given a dividend of $3.30 per share. The ex-dividend date was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.76%. Lockheed Martin’s payout ratio is 57.02%.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares in the company, valued at $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.14% of the stock is currently owned by insiders.

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.