Sherbrooke Park Advisers LLC Decreases Stake in Lockheed Martin Co. (NYSE:LMT)

Sherbrooke Park Advisers LLC cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 48.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 673 shares of the aerospace company's stock after selling 635 shares during the quarter. Sherbrooke Park Advisers LLC's holdings in Lockheed Martin were worth $327,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Empirical Asset Management LLC acquired a new stake in Lockheed Martin during the fourth quarter worth about $142,000. Merit Financial Group LLC boosted its position in Lockheed Martin by 22.3% in the 4th quarter. Merit Financial Group LLC now owns 11,915 shares of the aerospace company's stock worth $5,790,000 after purchasing an additional 2,173 shares in the last quarter. HB Wealth Management LLC grew its stake in shares of Lockheed Martin by 4.8% during the 4th quarter. HB Wealth Management LLC now owns 12,525 shares of the aerospace company's stock worth $6,087,000 after purchasing an additional 573 shares during the period. Ameritas Advisory Services LLC grew its stake in shares of Lockheed Martin by 7.3% during the 4th quarter. Ameritas Advisory Services LLC now owns 6,445 shares of the aerospace company's stock worth $3,132,000 after purchasing an additional 441 shares during the period. Finally, TruWealth Advisors LLC lifted its stake in shares of Lockheed Martin by 2.1% in the 4th quarter. TruWealth Advisors LLC now owns 43,011 shares of the aerospace company's stock valued at $20,900,000 after purchasing an additional 895 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Bank of America lowered shares of Lockheed Martin from a "buy" rating to a "neutral" rating and dropped their price target for the company from $685.00 to $485.00 in a research report on Monday, March 24th. Wells Fargo & Company dropped their target price on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird raised Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price target for the company in a report on Wednesday, April 23rd. Citigroup cut their price objective on Lockheed Martin from $700.00 to $600.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. Finally, StockNews.com lowered Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 3rd. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $541.80.

Lockheed Martin Price Performance

NYSE LMT traded down $5.47 during trading hours on Wednesday, hitting $470.35. 1,434,411 shares of the company's stock traded hands, compared to its average volume of 1,291,992. The company has a market capitalization of $110.20 billion, a PE ratio of 21.13, 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. Lockheed Martin Co. has a 52-week low of $418.88 and a 52-week high of $618.95. The firm's 50-day moving average is $461.58 and its 200-day moving average is $478.57.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $17.83 billion. Equities analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, June 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.81%. Lockheed Martin's dividend payout ratio is presently 57.02%.

Insider Activity

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 completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were 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 directly owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.14% of the stock is currently owned by insiders.

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.