Western Pacific Wealth Management LP Sells 71 Shares of Lockheed Martin Co. (NYSE:LMT)

Western Pacific Wealth Management LP reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 38.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 116 shares of the aerospace company’s stock after selling 71 shares during the period. Western Pacific Wealth Management LP’s holdings in Lockheed Martin were worth $56,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Algert Global LLC purchased a new stake in Lockheed Martin in the 2nd quarter valued at $277,000. Czech National Bank grew its stake in shares of Lockheed Martin by 6.2% in the 3rd quarter. Czech National Bank now owns 43,214 shares of the aerospace company’s stock worth $25,261,000 after acquiring an additional 2,520 shares in the last quarter. Curbstone Financial Management Corp purchased a new stake in shares of Lockheed Martin in the third quarter valued at about $421,000. Fluent Financial LLC bought a new position in shares of Lockheed Martin during the third quarter valued at about $889,000. Finally, Allied Investment Advisors LLC boosted its holdings in Lockheed Martin by 0.5% during the third quarter. Allied Investment Advisors LLC now owns 18,626 shares of the aerospace company’s stock worth $10,888,000 after purchasing an additional 91 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on LMT. Susquehanna dropped their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday. Wells Fargo & Company cut their price objective on Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating on the stock in a research report on Thursday. Citigroup decreased their target price 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. JPMorgan Chase & Co. cut their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Truist Financial began coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus price target of $555.60.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $462.53 on Friday. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The stock has a market capitalization of $108.88 billion, a P/E ratio of 20.78, a PEG ratio of 3.78 and a beta of 0.48. The company has a current ratio of 1.13, a quick ratio of 1.12 and a debt-to-equity ratio of 3.10. The firm’s 50 day moving average is $492.29 and its 200 day moving average is $536.89.

Lockheed Martin (NYSE:LMT) last posted 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%. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 27.09 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is presently 59.30%.

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.