Virtue Capital Management LLC Cuts Stake in Lockheed Martin Co. (NYSE:LMT)

Virtue Capital Management LLC cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 50.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,107 shares of the aerospace company's stock after selling 1,142 shares during the period. Virtue Capital Management LLC's holdings in Lockheed Martin were worth $538,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin during the fourth quarter valued at approximately $35,000. Leigh Baldwin & CO. LLC purchased a new position in shares of Lockheed Martin during the fourth quarter valued at approximately $959,000. Hall Capital Management Co. Inc. purchased a new position in shares of Lockheed Martin during the fourth quarter valued at approximately $2,743,000. Great Valley Advisor Group Inc. increased its stake in shares of Lockheed Martin by 6.0% during the fourth quarter. Great Valley Advisor Group Inc. now owns 38,919 shares of the aerospace company's stock valued at $18,912,000 after buying an additional 2,206 shares during the period. Finally, Cypress Asset Management Inc. TX purchased a new position in shares of Lockheed Martin during the fourth quarter valued at approximately $4,987,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Up 1.6%

Lockheed Martin stock traded up $7.54 during mid-day trading on Tuesday, hitting $476.42. The company had a trading volume of 1,275,853 shares, compared to its average volume of 1,297,472. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The stock's 50 day moving average price is $461.88 and its two-hundred day moving average price is $475.78. Lockheed Martin Co. has a 12 month low of $418.88 and a 12 month high of $618.95. The company has a market capitalization of $111.62 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping the consensus estimate of $6.34 by $0.94. The business had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm 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. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Monday, June 2nd. Lockheed Martin's payout ratio is currently 57.02%.

Analysts Set New Price Targets

LMT has been the topic of several recent research reports. Melius cut Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Morgan Stanley raised Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price target on the stock in a research note on Wednesday, April 16th. UBS Group upped their price target on Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 23rd. Melius Research cut Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, Wall Street Zen cut Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 3rd. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $541.80.

Insider Activity

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares in the company, valued at $884,840. This represents a 61.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares of the company's stock, valued at approximately $1,008,265.58. The trade was a 23.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock valued at $3,155,916 over the last ninety days. 0.14% of the stock is currently owned by corporate insiders.

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.