Lockheed Martin Co. (NYSE:LMT) Stake Reduced by Sunbelt Securities Inc.

Posted by Defense World Staff on Mar 16th, 2023

Sunbelt Securities Inc. reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT – Get Rating) by 13.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,003 shares of the aerospace company’s stock after selling 300 shares during the quarter. Sunbelt Securities Inc.’s holdings in Lockheed Martin were worth $774,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. IMA Wealth Inc. boosted its position in Lockheed Martin by 41.8% during the 2nd quarter. IMA Wealth Inc. now owns 78 shares of the aerospace company’s stock worth $34,000 after acquiring an additional 23 shares during the period. Tilia Fiduciary Partners Inc. boosted its position in Lockheed Martin by 3.2% during the 3rd quarter. Tilia Fiduciary Partners Inc. now owns 751 shares of the aerospace company’s stock worth $309,000 after acquiring an additional 23 shares during the period. PrairieView Partners LLC boosted its position in Lockheed Martin by 22.3% during the 3rd quarter. PrairieView Partners LLC now owns 126 shares of the aerospace company’s stock worth $49,000 after acquiring an additional 23 shares during the period. Fairhaven Wealth Management LLC boosted its position in Lockheed Martin by 3.6% during the 3rd quarter. Fairhaven Wealth Management LLC now owns 660 shares of the aerospace company’s stock worth $255,000 after acquiring an additional 23 shares during the period. Finally, MADDEN SECURITIES Corp boosted its position in Lockheed Martin by 3.2% during the 3rd quarter. MADDEN SECURITIES Corp now owns 814 shares of the aerospace company’s stock worth $314,000 after acquiring an additional 25 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on LMT shares. Morgan Stanley reduced their price target on Lockheed Martin from $542.00 to $532.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 25th. JPMorgan Chase & Co. boosted their price target on Lockheed Martin from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Monday, December 12th. The Goldman Sachs Group lowered Lockheed Martin from a “neutral” rating to a “sell” rating and cut their price objective for the company from $388.00 to $332.00 in a report on Friday, January 13th. Credit Suisse Group upgraded Lockheed Martin from an “underperform” rating to an “outperform” rating and upped their price objective for the company from $427.00 to $510.00 in a report on Monday, February 6th. Finally, Susquehanna upped their target price on Lockheed Martin from $510.00 to $512.00 and gave the company a “positive” rating in a report on Wednesday, January 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $490.43.

Insider Activity

In related news, Director John Donovan acquired 556 shares of the stock in a transaction dated Wednesday, January 25th. The shares were acquired at an average price of $451.20 per share, with a total value of $250,867.20. Following the acquisition, the director now owns 2,324 shares in the company, valued at approximately $1,048,588.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director John Donovan acquired 556 shares of the stock in a transaction dated Wednesday, January 25th. The shares were acquired at an average price of $451.20 per share, with a total value of $250,867.20. Following the acquisition, the director now owns 2,324 shares in the company, valued at approximately $1,048,588.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy S. Cahill sold 2,534 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $479.44, for a total value of $1,214,900.96. Following the transaction, the executive vice president now directly owns 10,460 shares in the company, valued at approximately $5,014,942.40. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $473.31 on Thursday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.32 and a quick ratio of 1.13. Lockheed Martin Co. has a fifty-two week low of $373.67 and a fifty-two week high of $498.95. The stock’s 50-day moving average is $467.59 and its two-hundred day moving average is $457.49. The firm has a market cap of $120.84 billion, a P/E ratio of 21.80, a PEG ratio of 2.58 and a beta of 0.68.

Lockheed Martin (NYSE:LMT – Get Rating) last issued its earnings results on Tuesday, January 24th. The aerospace company reported $7.79 earnings per share for the quarter, topping the consensus estimate of $7.41 by $0.38. The company had revenue of $18.99 billion for the quarter, compared to analyst estimates of $18.25 billion. Lockheed Martin had a return on equity of 68.01% and a net margin of 8.69%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.47 EPS. Analysts predict that Lockheed Martin Co. will post 26.86 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Wednesday, March 1st will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Tuesday, February 28th. Lockheed Martin’s dividend payout ratio is 55.27%.

Lockheed Martin Company Profile

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Lockheed Martin Corp. is a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.