Lockheed Martin Co. (NYSE:LMT) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,332 shares of the aerospace company’s stock after selling 277 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Lockheed Martin were worth $8,422,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin during the third quarter worth about $26,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin during the fourth quarter worth about $35,000. Legacy Investment Solutions LLC purchased a new position in Lockheed Martin during the third quarter worth about $42,000. Sugar Maple Asset Management LLC purchased a new position in Lockheed Martin during the fourth quarter worth about $47,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Lockheed Martin during the fourth quarter worth about $52,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. This trade represents a 61.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Harry Edward Paul III sold 707 shares of the firm’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 sale, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

LMT has been the topic of a number of research analyst reports. Citigroup reduced their price target 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. Morgan Stanley reduced their price target 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. Royal Bank of Canada reduced their price target on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Susquehanna reduced their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price target for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average price target of $554.20.

Lockheed Martin Stock Performance

Shares of LMT opened at $461.47 on Thursday. The company has a 50-day simple moving average of $461.97 and a 200-day simple moving average of $519.79. 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 company has a market capitalization of $108.62 billion, a PE ratio of 20.73, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results 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 net margin of 7.51% and a return on equity of 101.47%. Equities research analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.86%. Lockheed Martin’s payout ratio is 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.