Connecticut Wealth Management LLC Sells 149 Shares of Lockheed Martin Co. (NYSE:LMT)

Connecticut Wealth Management LLC trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT) by 22.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 527 shares of the aerospace company’s stock after selling 149 shares during the period. Connecticut Wealth Management LLC’s holdings in Lockheed Martin were worth $256,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in LMT. Proficio Capital Partners LLC grew its holdings in Lockheed Martin by 53,784.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock valued at $600,412,000 after purchasing an additional 1,233,275 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Lockheed Martin by 17.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after purchasing an additional 1,132,461 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in Lockheed Martin during the 4th quarter valued at about $526,587,000. Leigh Baldwin & CO. LLC bought a new position in Lockheed Martin during the 4th quarter valued at about $451,985,000. Finally, Van ECK Associates Corp grew its holdings in Lockheed Martin by 1,239.6% during the 4th quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock valued at $266,410,000 after purchasing an additional 507,312 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LMT has been the topic of several analyst reports. Jefferies Financial Group cut their price target on shares of Lockheed Martin from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Monday, April 28th. Bank of America cut shares of Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $685.00 to $485.00 in a research report on Monday, March 24th. Royal Bank of Canada cut shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Morgan Stanley raised shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective for the company in a research report on Wednesday, April 16th. Finally, Robert W. Baird raised shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price objective for the company in a research report on Wednesday, April 23rd. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $541.80.

Insider Buying and Selling 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 shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares of the company’s stock, valued at approximately $884,840. This trade represents a 61.63% decrease in their ownership of the stock. 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. Corporate insiders own 0.14% of the company’s stock.

Lockheed Martin Price Performance

NYSE LMT opened at $470.37 on Friday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The firm’s 50 day moving average price is $461.71 and its 200-day moving average price is $478.02. Lockheed Martin Co. has a 52-week low of $418.88 and a 52-week high of $618.95. The company has a market cap of $110.21 billion, a PE ratio of 21.13, a P/E/G ratio of 2.07 and a beta of 0.29.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The firm had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. Sell-side analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be paid a $3.30 dividend. The ex-dividend date is Monday, June 2nd. This represents a $13.20 annualized dividend and a yield of 2.81%. Lockheed Martin’s dividend payout ratio (DPR) is 57.02%.

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.