Avidian Wealth Solutions LLC Decreases Stake in Lockheed Martin Co. (NYSE:LMT)

Avidian Wealth Solutions LLC lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 8.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,135 shares of the aerospace company’s stock after selling 192 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Lockheed Martin were worth $968,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Triumph Capital Management grew its position in Lockheed Martin by 3.1% during the third quarter. Triumph Capital Management now owns 723 shares of the aerospace company’s stock valued at $296,000 after buying an additional 22 shares during the period. Abbrea Capital LLC grew its position in shares of Lockheed Martin by 1.7% during the 3rd quarter. Abbrea Capital LLC now owns 1,397 shares of the aerospace company’s stock valued at $571,000 after acquiring an additional 23 shares during the period. Pinnacle Wealth Planning Services Inc. increased its stake in shares of Lockheed Martin by 1.6% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,429 shares of the aerospace company’s stock valued at $584,000 after purchasing an additional 23 shares in the last quarter. Duncker Streett & Co. Inc. raised its holdings in Lockheed Martin by 1.2% in the 3rd quarter. Duncker Streett & Co. Inc. now owns 2,013 shares of the aerospace company’s stock worth $823,000 after purchasing an additional 24 shares during the period. Finally, Norris Perne & French LLP MI boosted its position in Lockheed Martin by 2.8% during the fourth quarter. Norris Perne & French LLP MI now owns 905 shares of the aerospace company’s stock worth $410,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Activity

In other news, SVP Maryanne Lavan sold 4,022 shares of the company’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO John Frank A. St sold 6,648 shares of the stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maryanne Lavan sold 4,022 shares of the business’s 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,874 shares of company stock valued at $7,249,946. 0.17% of the stock is currently owned by company insiders.

Lockheed Martin Price Performance

Shares of LMT stock traded down $1.29 during trading hours on Friday, reaching $461.91. The company had a trading volume of 910,781 shares, compared to its average volume of 1,142,922. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $479.50. The company has a market capitalization of $110.83 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 4.23 and a beta of 0.46. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.11 and a current ratio of 1.30. The stock has a fifty day moving average of $447.42 and a 200-day moving average of $445.41.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53. The business had revenue of $17.20 billion during the quarter, compared to the consensus estimate of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the company earned $6.43 EPS. On average, equities analysts anticipate that Lockheed Martin Co. will post 26.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be paid a $3.15 dividend. The ex-dividend date is Monday, June 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.73%. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Morgan Stanley decreased their price objective on shares of Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. Citigroup upped their price target on shares of Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Royal Bank of Canada decreased their price target on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 24th. Finally, Susquehanna reduced their target price on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $485.40.

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.