Phoenix Wealth Advisors Reduces Stock Position in Lockheed Martin Co. (NYSE:LMT)

Phoenix Wealth Advisors cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,992 shares of the aerospace company’s stock after selling 349 shares during the period. Phoenix Wealth Advisors’ holdings in Lockheed Martin were worth $1,821,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Herold Advisors Inc. boosted its holdings in Lockheed Martin by 8.6% in the third quarter. Herold Advisors Inc. now owns 3,448 shares of the aerospace company’s stock valued at $1,410,000 after purchasing an additional 274 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Lockheed Martin by 3.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,088 shares of the aerospace company’s stock valued at $8,624,000 after buying an additional 770 shares in the last quarter. Alethea Capital Management LLC purchased a new position in shares of Lockheed Martin in the 3rd quarter valued at $415,000. Meridian Wealth Management LLC raised its stake in Lockheed Martin by 149.0% during the 3rd quarter. Meridian Wealth Management LLC now owns 11,960 shares of the aerospace company’s stock worth $4,892,000 after acquiring an additional 7,156 shares in the last quarter. Finally, New Mexico Educational Retirement Board lifted its position in Lockheed Martin by 6.4% in the third quarter. New Mexico Educational Retirement Board now owns 11,697 shares of the aerospace company’s stock valued at $4,784,000 after acquiring an additional 700 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Shares of LMT stock traded up $1.23 during mid-day trading on Wednesday, hitting $454.31. The stock had a trading volume of 1,452,309 shares, compared to its average volume of 984,293. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $508.10. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.21 and a quick ratio of 1.03. The company’s 50-day simple moving average is $438.14 and its 200-day simple moving average is $442.02. The firm has a market cap of $109.26 billion, a PE ratio of 16.49, a PEG ratio of 4.13 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 23rd. The aerospace company reported $7.90 EPS for the quarter, beating analysts’ consensus estimates of $7.26 by $0.64. Lockheed Martin had a net margin of 10.24% and a return on equity of 79.91%. The firm had revenue of $18.87 billion during the quarter, compared to the consensus estimate of $17.96 billion. During the same quarter last year, the firm earned $7.79 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. Sell-side analysts anticipate that Lockheed Martin Co. will post 26.13 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were paid a $3.15 dividend. The ex-dividend date was Thursday, February 29th. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.77%. Lockheed Martin’s dividend payout ratio (DPR) is presently 45.74%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $475.00 to $518.00 in a research report on Monday. Morgan Stanley decreased their price objective on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. UBS Group cut their target price on shares of Lockheed Martin from $488.00 to $475.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. Royal Bank of Canada decreased their price target on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 24th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Lockheed Martin from $438.00 to $472.00 in a report on Monday, January 22nd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Lockheed Martin has an average rating of “Hold” and an average target price of $493.36.

Insider Buying and Selling

In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total transaction of $1,747,116.58. The disclosure for this sale can be found here. Insiders have sold 16,874 shares of company stock valued at $7,249,946 over the last quarter. Company insiders own 0.14% of the company’s stock.

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.