Principal Street Partners LLC Sells 11,494 Shares of Lockheed Martin Co. (NYSE:LMT)

Principal Street Partners LLC lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 90.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,228 shares of the aerospace company’s stock after selling 11,494 shares during the period. Principal Street Partners LLC’s holdings in Lockheed Martin were worth $597,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC boosted its position in shares of 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 acquiring an additional 1,233,275 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Lockheed Martin by 17.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after purchasing an additional 1,132,461 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at $526,587,000. Leigh Baldwin & CO. LLC bought a new position in Lockheed Martin during the fourth quarter valued at $451,985,000. Finally, Van ECK Associates Corp grew its position in Lockheed Martin by 1,239.6% in the fourth quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after acquiring an additional 507,312 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

NYSE LMT opened at $472.51 on Tuesday. The company has a market cap of $110.71 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 2.07 and a beta of 0.29. 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 stock’s fifty day moving average price is $461.43 and its 200 day moving average price is $478.60. Lockheed Martin Co. has a 1 year low of $418.88 and a 1 year high of $618.95.

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

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin’s dividend payout ratio is presently 57.02%.

Analysts Set New Price Targets

LMT has been the subject of several research analyst reports. Morgan Stanley upgraded Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 target price for the company in a research report on Wednesday, April 16th. Jefferies Financial Group dropped their target price on shares of Lockheed Martin from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Monday, April 28th. Royal Bank of Canada downgraded Lockheed Martin from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. UBS Group increased their price target on Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus price target of $541.80.

Insider Buying and Selling at Lockheed Martin

In related 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 directly owns 2,000 shares of the company’s stock, valued at $884,840. This trade represents a 61.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the business’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 transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. The trade was a 23.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. Company insiders own 0.14% of the company’s stock.

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.