CIBC Private Wealth Group LLC Cuts Stake in Lockheed Martin Co. (NYSE:LMT)

CIBC Private Wealth Group LLC decreased its position in Lockheed Martin Co. (NYSE:LMT) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,896 shares of the aerospace company’s stock after selling 1,238 shares during the period. CIBC Private Wealth Group LLC’s holdings in Lockheed Martin were worth $17,768,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new position in Lockheed Martin during the 3rd quarter worth approximately $26,000. Millstone Evans Group LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. acquired a new position in Lockheed Martin during the fourth quarter worth $34,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin in the fourth quarter worth $35,000. Finally, Legacy Investment Solutions LLC acquired a new stake in Lockheed Martin in the third quarter valued at $42,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $446.81 on Tuesday. The firm’s 50-day moving average is $455.61 and its two-hundred day moving average is $509.05. 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 capitalization of $105.17 billion, a P/E ratio of 20.07, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 12-month low of $419.70 and a 12-month high of $618.95.

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

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Insider Buying and Selling at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. The trade was a 61.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction 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 transaction, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock worth $3,155,916 in the last 90 days. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LMT has been the topic of a number of recent analyst reports. UBS Group lowered their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. dropped their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Royal Bank of Canada lowered Lockheed Martin from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $550.00 to $480.00 in a research note on Thursday, March 27th. Citigroup dropped 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, Melius Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $539.53.

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.