Western Wealth Management LLC Reduces Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Western Wealth Management LLC reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 81.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 926 shares of the aerospace company's stock after selling 3,953 shares during the quarter. Western Wealth Management LLC's holdings in Lockheed Martin were worth $450,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LMT. Sunbelt Securities Inc. raised its stake in Lockheed Martin by 7.3% in the fourth quarter. Sunbelt Securities Inc. now owns 4,124 shares of the aerospace company's stock worth $1,993,000 after buying an additional 280 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in shares of Lockheed Martin during the 4th quarter worth approximately $126,000. Vise Technologies Inc. raised its position in shares of Lockheed Martin by 46.9% in the 4th quarter. Vise Technologies Inc. now owns 3,372 shares of the aerospace company's stock worth $1,638,000 after acquiring an additional 1,077 shares in the last quarter. Retirement Planning Group LLC lifted its stake in shares of Lockheed Martin by 5.2% in the 4th quarter. Retirement Planning Group LLC now owns 1,347 shares of the aerospace company's stock valued at $655,000 after purchasing an additional 66 shares during the period. Finally, Investmark Advisory Group LLC bought a new stake in shares of Lockheed Martin during the fourth quarter valued at approximately $1,856,000. 74.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on LMT shares. Bank of America downgraded Lockheed Martin from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Melius Research lowered shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Wells Fargo & Company dropped their price objective 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, April 8th. UBS Group upped their price objective on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada lowered shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $550.00 to $480.00 in a report on Thursday, March 27th. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $541.80.

Lockheed Martin Stock Performance

Shares of LMT opened at $469.27 on Friday. The business has a 50-day simple moving average of $461.70 and a two-hundred day simple moving average of $477.48. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 52 week low of $418.88 and a 52 week high of $618.95. The stock has a market cap of $109.95 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 2.07 and a beta of 0.29.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $17.96 billion during 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%. On average, analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.81%. Lockheed Martin's dividend payout ratio (DPR) is presently 57.02%.

Insider Activity

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business's stock in a transaction that occurred on 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 transaction, the insider now directly owns 2,000 shares of the company's stock, valued at approximately $884,840. The trade was a 61.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Harry Edward Paul III sold 707 shares of the company's stock in a transaction that occurred on 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 transaction, the vice president now 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. Insiders have sold 7,133 shares of company stock worth $3,155,916 in the last three months. Company insiders own 0.14% of the company's stock.

Lockheed Martin Company 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.

Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Co. (NYSE:LMT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.