Lockheed Martin Co. (NYSE:LMT) is Avenir Corp’s 10th Largest Position

Avenir Corp lessened its position in Lockheed Martin Co. (NYSE:LMT) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,879 shares of the aerospace company’s stock after selling 3,281 shares during the quarter. Lockheed Martin makes up 3.6% of Avenir Corp’s investment portfolio, making the stock its 10th largest holding. Avenir Corp’s holdings in Lockheed Martin were worth $34,929,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Lockheed Martin by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after acquiring an additional 1,132,461 shares during the period. Geode Capital Management LLC raised its position in Lockheed Martin by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock valued at $2,374,557,000 after purchasing an additional 59,597 shares in the last quarter. Invesco Ltd. raised its position in Lockheed Martin by 17.5% in the 4th quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company’s stock valued at $1,035,989,000 after purchasing an additional 318,007 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Lockheed Martin by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company’s stock worth $847,361,000 after buying an additional 15,085 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its stake in shares of Lockheed Martin by 53,784.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock worth $600,412,000 after buying an additional 1,233,275 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on LMT. JPMorgan Chase & Co. decreased their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Morgan Stanley upgraded shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 target price for the company in a research note on Wednesday. Wells Fargo & Company cut their price target on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Citigroup lowered their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Finally, Melius lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $539.93.

Insider Transactions at Lockheed Martin

In other news, VP Harry Edward Paul III sold 707 shares of the firm’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 sale, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction 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 directly owns 2,000 shares in the company, valued at $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 over the last 90 days. 0.17% of the stock is currently owned by insiders.

Lockheed Martin Stock Up 1.6 %

Shares of NYSE:LMT opened at $477.25 on Thursday. Lockheed Martin Co. has a 1-year low of $418.88 and a 1-year high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a market cap of $111.95 billion, a P/E ratio of 21.44, a P/E/G ratio of 2.07 and a beta of 0.39. The firm has a fifty day moving average price of $451.64 and a 200 day moving average price of $499.06.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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%. Sell-side analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s payout ratio is currently 59.30%.

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.