Advisors Asset Management Inc. Decreases Stake in Lockheed Martin Co. (NYSE:LMT)

Advisors Asset Management Inc. reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 2.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,980 shares of the aerospace company’s stock after selling 1,479 shares during the period. Lockheed Martin makes up about 0.5% of Advisors Asset Management Inc.’s holdings, making the stock its 26th largest position. Advisors Asset Management Inc.’s holdings in Lockheed Martin were worth $25,745,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in LMT. Proficio Capital Partners LLC boosted its position in shares of Lockheed Martin by 53,784.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock worth $600,412,000 after purchasing an additional 1,233,275 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of 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 buying an additional 1,132,461 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Lockheed Martin by 1,239.6% in the 4th quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after buying an additional 507,312 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after buying an additional 240,306 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after buying an additional 209,591 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LMT has been the topic of several recent research reports. Citigroup decreased 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 report on Tuesday, January 21st. StockNews.com downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. UBS Group cut their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. Truist Financial began coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and cut their target price 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 assigned 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 a consensus price target of $554.20.

Lockheed Martin Stock Up 0.2 %

Shares of NYSE:LMT opened at $467.32 on Tuesday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95. The stock has a market capitalization of $110.00 billion, a P/E ratio of 20.99, a PEG ratio of 2.07 and a beta of 0.43. The stock has a 50-day simple moving average of $461.40 and a 200-day simple moving average of $517.49.

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 return on equity of 101.47% and a net margin of 7.51%. Equities analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Insiders Place Their Bets

In other Lockheed Martin news, 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 completion of the transaction, the insider now owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $312,925.27. Following the completion of the transaction, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This represents a 23.69 % 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 in the last 90 days. 0.17% of the stock is owned by company insiders.

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.