Schrum Private Wealth Management LLC Cuts Position in Lockheed Martin Co. (NYSE:LMT)

Schrum Private Wealth Management LLC cut its position in Lockheed Martin Co. (NYSE:LMT) by 27.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,223 shares of the aerospace company’s stock after selling 1,249 shares during the quarter. Lockheed Martin accounts for 1.3% of Schrum Private Wealth Management LLC’s holdings, making the stock its 21st largest holding. Schrum Private Wealth Management LLC’s holdings in Lockheed Martin were worth $1,566,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of LMT. Itau Unibanco Holding S.A. acquired a new stake in Lockheed Martin in the 3rd quarter valued at about $26,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter worth approximately $35,000. Capital Performance Advisors LLP acquired a new stake in Lockheed Martin in the third quarter valued at approximately $40,000. Legacy Investment Solutions LLC purchased a new position in Lockheed Martin in the third quarter worth approximately $42,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Lockheed Martin during the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insiders Place Their Bets

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock worth $3,155,916 over the last three months. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of recent analyst reports. Truist Financial initiated coverage on Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target for the company. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. UBS Group lowered their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Citigroup decreased their target price on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average price target of $553.67.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $460.71 on Thursday. The business’s fifty day moving average is $463.76 and its two-hundred day moving average is $522.84. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The firm has a market cap of $108.45 billion, a P/E ratio of 20.70, a P/E/G ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last posted its 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 return on equity of 101.47% and a net margin of 7.51%. Equities research analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio 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.