Bedell Frazier Investment Counselling LLC Sells 4,943 Shares of Lockheed Martin Co. (NYSE:LMT)

Bedell Frazier Investment Counselling LLC trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 17.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 23,081 shares of the aerospace company’s stock after selling 4,943 shares during the quarter. Lockheed Martin comprises about 2.8% of Bedell Frazier Investment Counselling LLC’s investment portfolio, making the stock its 7th largest holding. Bedell Frazier Investment Counselling LLC’s holdings in Lockheed Martin were worth $11,216,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in LMT. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin during the third quarter worth about $26,000. Millstone Evans Group LLC acquired a new position in Lockheed Martin during the fourth quarter worth approximately $32,000. Mizuho Securities Co. Ltd. purchased a new stake in Lockheed Martin in the fourth quarter valued at approximately $34,000. Heck Capital Advisors LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $35,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Lockheed Martin during the third quarter worth approximately $42,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $441.41 on Monday. The company has a market cap of $103.90 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95. The business has a fifty day moving average of $456.49 and a two-hundred day moving average of $509.90. 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 (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating 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%. As a group, analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were paid a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s payout ratio is currently 59.30%.

Insider Buying and Selling

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 shares were 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 of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of recent research reports. Melius cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Royal Bank of Canada downgraded shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $550.00 to $480.00 in a research note on Thursday. UBS Group lowered their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Citigroup reduced their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Finally, StockNews.com upgraded Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Lockheed Martin has a consensus rating of “Hold” and a consensus target price of $539.53.

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.