Moran Wealth Management LLC Sells 2,790 Shares of Lockheed Martin Co. (NYSE:LMT)

Moran Wealth Management LLC reduced its position in shares of Lockheed Martin Co. (NYSE:LMT) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,126 shares of the aerospace company’s stock after selling 2,790 shares during the period. Lockheed Martin makes up approximately 1.6% of Moran Wealth Management LLC’s investment portfolio, making the stock its 6th biggest position. Moran Wealth Management LLC’s holdings in Lockheed Martin were worth $51,085,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LMT. Itau Unibanco Holding S.A. bought a new stake in shares of Lockheed Martin during the 3rd quarter worth $26,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin during the fourth quarter worth about $35,000. Capital Performance Advisors LLP bought a new position in shares of Lockheed Martin in the third quarter worth about $40,000. Legacy Investment Solutions LLC acquired a new stake in shares of Lockheed Martin in the 3rd quarter valued at approximately $42,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Lockheed Martin during the 4th quarter valued at approximately $47,000. 74.19% of the stock is currently owned by institutional investors.

Insider Activity

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’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 of the company’s stock, valued at approximately $884,840. This represents a 61.63 % 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 in the last quarter. 0.17% of the stock is owned by corporate insiders.

Lockheed Martin Price Performance

LMT stock opened at $474.31 on Monday. 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 firm has a market cap of $111.65 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 2.07 and a beta of 0.43. The company’s fifty day simple moving average is $462.89 and its 200 day simple moving average is $521.36. Lockheed Martin Co. has a 12-month low of $419.70 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating 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 expect that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LMT shares. Royal Bank of Canada cut 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. Morgan Stanley cut their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a 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 for the company in a report on Wednesday, January 29th. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price objective for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. 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 issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $554.20.

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.