MainStreet Investment Advisors LLC Sells 173 Shares of Lockheed Martin Co. (NYSE:LMT)

MainStreet Investment Advisors LLC decreased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 14,041 shares of the aerospace company’s stock after selling 173 shares during the period. Lockheed Martin makes up 1.0% of MainStreet Investment Advisors LLC’s holdings, making the stock its 27th largest position. MainStreet Investment Advisors LLC’s holdings in Lockheed Martin were worth $6,823,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in LMT. Proficio Capital Partners LLC raised its holdings in Lockheed Martin by 53,784.3% in the 4th quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock worth $600,412,000 after acquiring an additional 1,233,275 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Lockheed Martin by 17.9% in the fourth 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 acquiring an additional 1,132,461 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter worth $526,587,000. Leigh Baldwin & CO. LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter worth $451,985,000. Finally, Van ECK Associates Corp increased its position in Lockheed Martin by 1,239.6% during the fourth quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after acquiring an additional 507,312 shares during the period. 74.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. The trade was 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 Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the transaction, the insider now directly owns 2,000 shares in the company, valued at $884,840. The trade was a 61.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,133 shares of company stock valued at $3,155,916. 0.14% of the stock is currently owned by insiders.

Lockheed Martin Trading Down 2.9%

Shares of LMT stock opened at $459.56 on Wednesday. The company has a market capitalization of $107.67 billion, a P/E ratio of 20.65, a P/E/G ratio of 2.07 and a beta of 0.29. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 12-month low of $418.88 and a 12-month high of $618.95. The firm has a 50-day moving average price of $462.06 and a 200 day moving average price of $481.44.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The firm had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. Research analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.87%. Lockheed Martin’s payout ratio is currently 57.02%.

Analyst Ratings Changes

LMT has been the subject of a number of research reports. Royal Bank of Canada downgraded shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $550.00 to $480.00 in a report on Thursday, March 27th. Baird R W raised shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Citigroup reduced their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Melius lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, UBS Group upped their price target on Lockheed Martin from $481.00 to $499.00 and gave the company a “neutral” rating in a report on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $541.80.

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.