Avantax Advisory Services Inc. Sells 993 Shares of Lockheed Martin Co. (NYSE:LMT)

Avantax Advisory Services Inc. lessened its position in shares of Lockheed Martin Co. (NYSE:LMT) by 1.8% in the 4th quarter, HoldingsChannel reports. The fund owned 52,795 shares of the aerospace company’s stock after selling 993 shares during the period. Avantax Advisory Services Inc.’s holdings in Lockheed Martin were worth $25,655,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in Lockheed Martin by 17.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after purchasing an additional 1,132,461 shares in the last quarter. Geode Capital Management LLC increased its stake in 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 purchasing an additional 83,997 shares in the last quarter. FMR LLC increased its stake in 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 purchasing an additional 209,591 shares in the last quarter. Wellington Management Group LLP increased its stake in 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 purchasing an additional 240,306 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in 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 purchasing an additional 15,085 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

LMT has been the topic of a number of research reports. Barclays cut their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Morgan Stanley cut their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Citigroup cut their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. StockNews.com lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus target price of $554.20.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was 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. This trade represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock valued at $3,155,916 in the last 90 days. 0.17% of the stock is currently owned by corporate insiders.

Lockheed Martin Stock Performance

Shares of LMT opened at $469.40 on Wednesday. The business’s fifty day moving average price is $462.46 and its 200 day moving average price is $520.20. Lockheed Martin Co. has a 12-month low of $419.70 and a 12-month high of $618.95. The stock has a market capitalization of $110.49 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Equities research analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.81%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

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.