Midland Wealth Advisors LLC Decreases Stock Position in Lockheed Martin Co. (NYSE:LMT)

Midland Wealth Advisors LLC reduced its position in Lockheed Martin Co. (NYSE:LMT) by 6.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 809 shares of the aerospace company’s stock after selling 53 shares during the period. Midland Wealth Advisors LLC’s holdings in Lockheed Martin were worth $393,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in Lockheed Martin by 17.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after acquiring an additional 1,132,461 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Lockheed Martin by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock valued at $2,816,898,000 after buying an additional 83,997 shares during the period. FMR LLC lifted its holdings in shares of Lockheed Martin by 6.6% during the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after buying an additional 209,591 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Lockheed Martin by 8.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after buying an additional 240,306 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings 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 valued at $847,361,000 after buying an additional 15,085 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LMT shares. JPMorgan Chase & Co. lowered their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Barclays lowered their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Citigroup lowered their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. StockNews.com cut Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus price target of $554.20.

Lockheed Martin Trading Up 1.0 %

Shares of LMT stock opened at $478.42 on Tuesday. 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 capitalization of $112.61 billion, a PE ratio of 21.49, a PEG ratio of 2.07 and a beta of 0.43. The stock has a fifty day simple moving average of $462.79 and a two-hundred day simple moving average of $520.80.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results 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 return on equity of 101.47% and a net margin of 7.51%. On average, analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be paid 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 yield of 2.76%. Lockheed Martin’s payout ratio is presently 59.30%.

Insider Activity

In other news, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the transaction, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 2,000 shares of the company’s stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock worth $3,155,916 over the last 90 days. Corporate insiders own 0.17% of the company’s stock.

About Lockheed Martin

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.