Great Lakes Advisors LLC Reduces Holdings in Lockheed Martin Co. (NYSE:LMT)

Great Lakes Advisors LLC lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,275 shares of the aerospace company’s stock after selling 1,185 shares during the quarter. Great Lakes Advisors LLC’s holdings in Lockheed Martin were worth $22,972,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Truvestments Capital LLC lifted its position in shares of Lockheed Martin by 5.5% during the 4th quarter. Truvestments Capital LLC now owns 6,457 shares of the aerospace company’s stock valued at $3,138,000 after acquiring an additional 339 shares during the period. Hopwood Financial Services Inc. purchased a new stake in Lockheed Martin in the 4th quarter worth approximately $476,000. Farther Finance Advisors LLC grew its stake in Lockheed Martin by 20.9% in the 4th quarter. Farther Finance Advisors LLC now owns 5,843 shares of the aerospace company’s stock worth $2,839,000 after acquiring an additional 1,010 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of Lockheed Martin by 5.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 12,923 shares of the aerospace company’s stock valued at $6,280,000 after buying an additional 635 shares during the period. Finally, PFG Advisors grew its stake in shares of Lockheed Martin by 5.2% during the 4th quarter. PFG Advisors now owns 3,103 shares of the aerospace company’s stock valued at $1,508,000 after buying an additional 152 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $469.40 on Wednesday. The stock has a market capitalization of $110.49 billion, a PE ratio of 21.09, a P/E/G ratio of 2.07 and a beta of 0.43. 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 business has a fifty day moving average price of $462.46 and a two-hundred day moving average price of $520.20. Lockheed Martin Co. has a fifty-two week low of $419.70 and a fifty-two week high of $618.95.

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

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Insider Transactions 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 stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the sale, the insider now owns 2,000 shares in the company, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction dated 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 owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock valued at $3,155,916 over the last ninety days. 0.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LMT shares. Citigroup decreased their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. StockNews.com lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price objective for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Royal Bank of Canada dropped 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. Finally, Truist Financial assumed 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.