MainStreet Investment Advisors LLC Decreases Holdings in Lockheed Martin Co. (NYSE:LMT)


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MainStreet Investment Advisors LLC lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 5.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,951 shares of the aerospace company’s stock after selling 1,191 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Lockheed Martin were worth $6,727,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Key Financial Inc purchased a new stake in Lockheed Martin during the fourth quarter worth about $26,000. Simon Quick Advisors LLC purchased a new position in shares of Lockheed Martin in the third quarter worth about $32,000. Barnett & Company Inc. purchased a new position in shares of Lockheed Martin in the third quarter worth about $38,000. ForthRight Wealth Management LLC purchased a new position in shares of Lockheed Martin in the fourth quarter worth about $35,000. Finally, Laurel Wealth Advisors LLC increased its stake in shares of Lockheed Martin by 28.6% in the fourth quarter. Laurel Wealth Advisors LLC now owns 135 shares of the aerospace company’s stock worth $48,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 77.00% of the company’s stock.

Several research firms have recently weighed in on LMT. Robert W. Baird downgraded shares of Lockheed Martin from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $420.00 to $368.00 in a research note on Thursday, January 7th. Credit Suisse Group reduced their target price on shares of Lockheed Martin from $351.00 to $334.00 in a research note on Wednesday, January 27th. Cowen reaffirmed a “buy” rating and set a $410.00 price objective on shares of Lockheed Martin in a research note on Friday, November 27th. Finally, Morgan Stanley reduced their price objective on shares of Lockheed Martin from $480.00 to $445.00 and set an “overweight” rating for the company in a research note on Monday, February 8th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $418.15.

Lockheed Martin stock traded down $0.64 during mid-day trading on Tuesday, hitting $339.83. 28,063 shares of the company traded hands, compared to its average volume of 1,975,926. Lockheed Martin Co. has a one year low of $266.11 and a one year high of $424.20. The stock has a market cap of $95.19 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 1.98 and a beta of 0.92. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.12 and a current ratio of 1.33. The stock has a fifty day moving average price of $338.00 and a 200-day moving average price of $366.14.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Monday, January 25th. The aerospace company reported $6.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.03). Lockheed Martin had a net margin of 10.18% and a return on equity of 173.43%. The company had revenue of $17.03 billion for the quarter, compared to the consensus estimate of $16.92 billion. During the same quarter in the previous year, the firm earned $5.29 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts predict that Lockheed Martin Co. will post 24.82 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Monday, March 1st will be given a dividend of $2.60 per share. The ex-dividend date of this dividend is Friday, February 26th. This represents a $10.40 annualized dividend and a yield of 3.06%. Lockheed Martin’s payout ratio is presently 47.38%.

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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space Systems.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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