Mindset Wealth Management LLC Decreases Position in Lockheed Martin Co. (NYSE:LMT)

Mindset Wealth Management LLC lessened its holdings in Lockheed Martin Co. (NYSE:LMT) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,400 shares of the aerospace company’s stock after selling 93 shares during the quarter. Mindset Wealth Management LLC’s holdings in Lockheed Martin were worth $680,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of LMT. Itau Unibanco Holding S.A. purchased a new position in shares of Lockheed Martin in the third quarter valued at about $26,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin in the fourth quarter valued at about $35,000. Legacy Investment Solutions LLC purchased a new position in shares of Lockheed Martin in the third quarter valued at about $42,000. Sugar Maple Asset Management LLC purchased a new position in shares of Lockheed Martin in the fourth quarter valued at about $47,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Lockheed Martin during the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.9 %

Shares of LMT stock opened at $466.48 on Friday. Lockheed Martin Co. has a 12 month low of $419.70 and a 12 month high of $618.95. The stock has a market cap of $109.80 billion, a P/E ratio of 20.96, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The company has a 50 day simple moving average of $461.50 and a two-hundred day simple moving average of $516.12.

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

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given 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 dividend yield of 2.83%. Lockheed Martin’s payout ratio is currently 59.30%.

Insiders Place Their Bets

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, 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 transaction of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63 % 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 over the last three months. 0.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LMT. Royal Bank of Canada cut their target price 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. Morgan Stanley cut their target price 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. JPMorgan Chase & Co. dropped their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Truist Financial began coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, six have issued 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, Lockheed Martin has an average rating of “Moderate Buy” and a consensus price target of $554.20.

Lockheed Martin Company 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.