Lockheed Martin Co. (NYSE:LMT) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 3.2% in the 4th quarter, Holdings Channel reports. The firm owned 37,896 shares of the aerospace company’s stock after selling 1,238 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Lockheed Martin were worth $17,768,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of LMT. Virtue Capital Management LLC raised its holdings in shares of Lockheed Martin by 112.8% during the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after buying an additional 1,192 shares during the period. Hilltop Holdings Inc. raised its stake in shares of Lockheed Martin by 79.9% during the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after purchasing an additional 5,361 shares during the period. Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of Lockheed Martin by 51.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock worth $4,630,000 after purchasing an additional 3,247 shares in the last quarter. Capital Investment Advisors LLC boosted its stake in shares of Lockheed Martin by 2.2% in the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after purchasing an additional 2,011 shares during the period. Finally, Brady Martz Wealth Solutions LLC acquired a new stake in Lockheed Martin during the 4th quarter valued at $1,266,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Trading Up 1.2 %

Lockheed Martin stock opened at $446.81 on Tuesday. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95. The firm’s 50-day moving average is $455.61 and its 200-day moving average is $509.05. 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 company has a market cap of $105.17 billion, a P/E ratio of 20.07, a PEG ratio of 2.07 and a beta of 0.43.

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

Lockheed Martin Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 2.95%. Lockheed Martin’s payout ratio is currently 59.30%.

Wall Street Analyst Weigh In

A number of brokerages have commented on LMT. Melius Research lowered shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Susquehanna cut their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. Bank of America lowered Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $685.00 to $485.00 in a research note on Monday, March 24th. JPMorgan Chase & Co. cut their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Finally, Royal Bank of Canada downgraded shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $550.00 to $480.00 in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $539.53.

Insiders Place Their Bets

In other Lockheed Martin 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 value of $1,421,495.46. Following the sale, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction that occurred 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 sale, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock valued at $3,155,916 over the last three months. Company 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.