Manhattan West Asset Management LLC Trims Holdings in Lockheed Martin Co. (NYSE:LMT)

Manhattan West Asset Management LLC lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 11.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,068 shares of the aerospace company’s stock after selling 141 shares during the period. Manhattan West Asset Management LLC’s holdings in Lockheed Martin were worth $519,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Morse Asset Management Inc raised its stake in Lockheed Martin by 1.0% during the third quarter. Morse Asset Management Inc now owns 3,058 shares of the aerospace company’s stock valued at $1,788,000 after buying an additional 31 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Lockheed Martin in the 3rd quarter valued at approximately $447,000. Tudor Financial Inc. acquired a new stake in shares of Lockheed Martin during the 3rd quarter valued at approximately $557,000. Anchor Investment Management LLC lifted its stake in Lockheed Martin by 8.4% during the third quarter. Anchor Investment Management LLC now owns 4,125 shares of the aerospace company’s stock worth $2,411,000 after purchasing an additional 320 shares during the last quarter. Finally, Fulcrum Equity Management boosted its holdings in Lockheed Martin by 4.7% in the third quarter. Fulcrum Equity Management now owns 900 shares of the aerospace company’s stock worth $526,000 after purchasing an additional 40 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lockheed Martin

In other news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. This represents a 23.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin 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 approximately $884,840. The trade was a 61.63 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,133 shares of company stock valued at $3,155,916. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on LMT shares. Citigroup reduced their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Barclays cut their target price 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. Bank of America lowered Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their target price for the company from $685.00 to $485.00 in a report on Monday, March 24th. Melius Research cut Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Morgan Stanley reduced their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $536.60.

Lockheed Martin Stock Up 2.5 %

Shares of NYSE:LMT opened at $475.11 on Friday. The firm has a 50 day simple moving average of $450.03 and a 200 day simple moving average of $500.71. Lockheed Martin Co. has a 52 week low of $418.88 and a 52 week high of $618.95. 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 company has a market cap of $111.45 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39.

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

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

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.