Institute for Wealth Management LLC. Trims Position in Lockheed Martin Co. (NYSE:LMT)

Institute for Wealth Management LLC. trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 4.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,692 shares of the aerospace company’s stock after selling 124 shares during the period. Institute for Wealth Management LLC.’s holdings in Lockheed Martin were worth $1,220,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in LMT. Comerica Bank purchased a new position in Lockheed Martin during the second quarter worth about $280,000. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Lockheed Martin by 73.0% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 64 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 27 shares in the last quarter. Coppell Advisory Solutions Corp. purchased a new position in Lockheed Martin during the fourth quarter worth about $31,000. Activest Wealth Management raised its holdings in Lockheed Martin by 1,200.0% during the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 60 shares in the last quarter. Finally, KB Financial Partners LLC purchased a new position in Lockheed Martin during the first quarter worth about $35,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LMT has been the subject of several analyst reports. Citigroup cut their price target on shares of Lockheed Martin from $540.00 to $508.00 and set a “buy” rating for the company in a report on Wednesday, January 24th. Morgan Stanley cut their price target on shares of Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Lockheed Martin from $438.00 to $472.00 in a report on Monday, January 22nd. UBS Group dropped their target price on shares of Lockheed Martin from $488.00 to $475.00 and set a “neutral” rating for the company in a report on Wednesday, January 24th. Finally, Susquehanna dropped their target price on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a report on Wednesday, January 24th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $487.70.

Insider Buying and Selling

In related news, COO John Frank A. St sold 6,648 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction on Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,874 shares of company stock worth $7,249,946. 0.17% of the stock is owned by insiders.

Lockheed Martin Stock Up 1.8 %

LMT stock opened at $464.14 on Friday. The company’s 50 day simple moving average is $440.00 and its 200-day simple moving average is $442.60. The firm has a market capitalization of $111.62 billion, a PE ratio of 16.85, a P/E/G ratio of 4.16 and a beta of 0.48. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $495.83. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.21 and a quick ratio of 1.03.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 23rd. The aerospace company reported $7.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.26 by $0.64. Lockheed Martin had a net margin of 10.24% and a return on equity of 79.91%. The firm had revenue of $18.87 billion for the quarter, compared to analyst estimates of $17.96 billion. During the same quarter last year, the business earned $7.79 earnings per share. Lockheed Martin’s revenue was down .6% compared to the same quarter last year. Equities analysts expect that Lockheed Martin Co. will post 26.13 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were given a dividend of $3.15 per share. The ex-dividend date was Thursday, February 29th. This represents a $12.60 dividend on an annualized basis and a yield of 2.71%. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.74%.

Lockheed Martin 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.