Obermeyer Wood Investment Counsel Lllp Reduces Position in Lockheed Martin Co. (NYSE:LMT)

Obermeyer Wood Investment Counsel Lllp trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 2.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 73,835 shares of the aerospace company’s stock after selling 2,226 shares during the period. Lockheed Martin comprises approximately 2.3% of Obermeyer Wood Investment Counsel Lllp’s holdings, making the stock its 17th biggest holding. Obermeyer Wood Investment Counsel Lllp’s holdings in Lockheed Martin were worth $33,465,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Comerica Bank bought a new position in Lockheed Martin during the second quarter valued at approximately $280,000. Bank Julius Baer & Co. Ltd Zurich grew its position in Lockheed Martin by 73.0% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 64 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 27 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new position in Lockheed Martin during the fourth quarter valued at approximately $31,000. Activest Wealth Management grew its holdings in shares of Lockheed Martin by 1,200.0% in the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 60 shares during the last quarter. Finally, KB Financial Partners LLC bought a new position in shares of Lockheed Martin in the first quarter worth approximately $35,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Up 0.0 %

Lockheed Martin stock traded up $0.04 on Thursday, hitting $456.09. 714,651 shares of the stock traded hands, compared to its average volume of 1,157,395. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $503.33. The business’s fifty day simple moving average is $438.66 and its 200 day simple moving average is $442.12. The firm has a market cap of $109.69 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 4.14 and a beta of 0.48. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 2.53.

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

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were issued a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.76%. The ex-dividend date was Thursday, February 29th. Lockheed Martin’s dividend payout ratio is 45.74%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LMT shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Lockheed Martin from $438.00 to $472.00 in a report on Monday, January 22nd. Citigroup cut their target price on shares of Lockheed Martin from $540.00 to $508.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. JPMorgan Chase & Co. upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $475.00 to $518.00 in a report on Monday. Royal Bank of Canada cut their target price on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 24th. Finally, Susquehanna dropped their price target on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research note on Wednesday, January 24th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $493.36.

Insider Buying and Selling

In related news, SVP Maryanne Lavan sold 4,022 shares of the stock in a transaction that occurred on 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 can be accessed through this link. In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total value of $1,747,116.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John Frank A. St sold 6,648 shares of the company’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 value of $2,827,726.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,874 shares of company stock valued at $7,249,946. 0.17% of the stock is owned by corporate insiders.

Lockheed Martin 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.