Cannell & Spears LLC Lowers Holdings in Lockheed Martin Co. (NYSE:LMT)

Cannell & Spears LLC trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 0.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,803 shares of the aerospace company’s stock after selling 55 shares during the quarter. Cannell & Spears LLC’s holdings in Lockheed Martin were worth $30,519,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vinva Investment Management Ltd increased its position in Lockheed Martin by 3.0% during the third quarter. Vinva Investment Management Ltd now owns 656 shares of the aerospace company’s stock valued at $382,000 after acquiring an additional 19 shares during the last quarter. CFS Investment Advisory Services LLC raised its stake in Lockheed Martin by 2.0% in the fourth quarter. CFS Investment Advisory Services LLC now owns 1,091 shares of the aerospace company’s stock worth $530,000 after buying an additional 21 shares in the last quarter. Wynn Capital LLC boosted its position in Lockheed Martin by 1.0% during the fourth quarter. Wynn Capital LLC now owns 2,185 shares of the aerospace company’s stock valued at $1,062,000 after purchasing an additional 22 shares in the last quarter. PBMares Wealth Management LLC grew its position in shares of Lockheed Martin by 0.6% in the 4th quarter. PBMares Wealth Management LLC now owns 3,745 shares of the aerospace company’s stock worth $1,820,000 after buying an additional 22 shares during the last quarter. Finally, Nvwm LLC lifted its holdings in shares of Lockheed Martin by 2.5% during the 4th quarter. Nvwm LLC now owns 908 shares of the aerospace company’s stock valued at $441,000 after purchasing an additional 22 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Shares of LMT opened at $441.41 on Monday. Lockheed Martin Co. has a 12 month low of $419.70 and a 12 month high of $618.95. The company’s fifty day moving average is $456.49 and its 200-day moving average is $509.90. The firm has a market cap of $103.90 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

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

Lockheed Martin Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LMT. Barclays cut their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Truist Financial started coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. Morgan Stanley decreased their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. decreased their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $539.53.

Insider Transactions at Lockheed Martin

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

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.