Verde Capital Management Has $248,000 Stake in Lockheed Martin Co. (NYSE:LMT)

Verde Capital Management reduced its position in Lockheed Martin Co. (NYSE:LMT) by 17.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 547 shares of the aerospace company’s stock after selling 118 shares during the period. Verde Capital Management’s holdings in Lockheed Martin were worth $248,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Herold Advisors Inc. raised its stake in shares of Lockheed Martin by 8.6% in the 3rd quarter. Herold Advisors Inc. now owns 3,448 shares of the aerospace company’s stock valued at $1,410,000 after purchasing an additional 274 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Lockheed Martin by 3.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,088 shares of the aerospace company’s stock valued at $8,624,000 after acquiring an additional 770 shares during the last quarter. Alethea Capital Management LLC acquired a new position in Lockheed Martin during the third quarter worth approximately $415,000. Meridian Wealth Management LLC increased its position in Lockheed Martin by 149.0% during the third quarter. Meridian Wealth Management LLC now owns 11,960 shares of the aerospace company’s stock worth $4,892,000 after buying an additional 7,156 shares during the last quarter. Finally, Central Bank & Trust Co. boosted its holdings in shares of Lockheed Martin by 1.6% during the third quarter. Central Bank & Trust Co. now owns 3,305 shares of the aerospace company’s stock worth $1,352,000 after acquiring an additional 51 shares during the period. 74.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LMT has been the subject of several recent research reports. Citigroup cut their price target on Lockheed Martin from $540.00 to $508.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. Morgan Stanley cut their target price on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. UBS Group cut their target price on Lockheed Martin from $488.00 to $475.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. Royal Bank of Canada cut their target price on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 24th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Lockheed Martin from $438.00 to $472.00 in a research note on Monday, January 22nd. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $491.92.

Insider Buying and Selling

In other news, COO John Frank A. St sold 6,648 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, SVP Maryanne Lavan sold 4,022 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John Frank A. St sold 6,648 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $425.35, for a total transaction of $2,827,726.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,874 shares of company stock worth $7,249,946. 0.17% of the stock is owned by insiders.

Lockheed Martin Price Performance

NYSE:LMT traded up $2.76 during midday trading on Friday, hitting $445.92. The company had a trading volume of 1,007,621 shares, compared to its average volume of 1,188,870. The stock’s fifty day moving average price is $434.38 and its 200-day moving average price is $438.02. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 2.53. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $508.10. The company has a market capitalization of $107.24 billion, a PE ratio of 16.17, a P/E/G ratio of 4.03 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 23rd. The aerospace company reported $7.90 EPS for the quarter, beating the consensus estimate of $7.26 by $0.64. Lockheed Martin had a net margin of 10.24% and a return on equity of 79.91%. The firm had revenue of $18.87 billion during the quarter, compared to the consensus estimate of $17.96 billion. During the same period in the prior year, the firm posted $7.79 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, research analysts expect that Lockheed Martin Co. will post 26.13 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 1st will be issued a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Thursday, February 29th. Lockheed Martin’s dividend payout ratio is currently 45.74%.

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.