Legacy Financial Advisors Inc. Trims Holdings in Lockheed Martin Co. (NYSE:LMT)

Legacy Financial Advisors Inc. reduced its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 37.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,722 shares of the aerospace company’s stock after selling 1,048 shares during the period. Legacy Financial Advisors Inc.’s holdings in Lockheed Martin were worth $837,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Millstone Evans Group LLC bought a new position in shares of Lockheed Martin during the fourth quarter valued at $32,000. Mizuho Securities Co. Ltd. bought a new stake in Lockheed Martin during the 4th quarter valued at about $34,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin in the fourth quarter worth about $35,000. Redwood Park Advisors LLC bought a new position in shares of Lockheed Martin in the fourth quarter worth approximately $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Lockheed Martin during the fourth quarter valued at approximately $42,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 0.6 %

NYSE:LMT opened at $464.80 on Friday. Lockheed Martin Co. has a one year low of $418.88 and a one year high of $618.95. The business has a fifty day moving average price of $449.60 and a 200-day moving average price of $501.42. The firm has a market capitalization of $109.03 billion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Sell-side analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were paid a $3.30 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.84%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Wall Street Analysts Forecast Growth

LMT has been the topic of several analyst reports. UBS Group lowered their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Wells Fargo & Company lowered their target price on shares of Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Truist Financial initiated coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $536.60.

Insiders Place Their Bets

In other news, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the transaction, the vice president now 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 document filed with the SEC, 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 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 transaction, the insider now directly 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. In the last quarter, insiders sold 7,133 shares of company stock worth $3,155,916. Corporate insiders own 0.17% 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.