Schrum Private Wealth Management LLC Cuts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Schrum Private Wealth Management LLC reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 27.9% in the fourth quarter, Holdings Channel reports. The fund owned 3,223 shares of the aerospace company’s stock after selling 1,249 shares during the quarter. Lockheed Martin accounts for about 1.3% of Schrum Private Wealth Management LLC’s portfolio, making the stock its 21st largest position. Schrum Private Wealth Management LLC’s holdings in Lockheed Martin were worth $1,566,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LMT. Klingman & Associates LLC boosted its position in shares of Lockheed Martin by 1.1% during the 3rd quarter. Klingman & Associates LLC now owns 1,729 shares of the aerospace company’s stock valued at $1,011,000 after acquiring an additional 19 shares during the last quarter. Platform Technology Partners boosted its position in Lockheed Martin by 0.5% during the 3rd quarter. Platform Technology Partners now owns 4,122 shares of the aerospace company’s stock valued at $2,409,000 after acquiring an additional 19 shares in the last quarter. Assetmark Inc. grew its holdings in Lockheed Martin by 1.3% in the third quarter. Assetmark Inc. now owns 1,470 shares of the aerospace company’s stock worth $859,000 after purchasing an additional 19 shares during the period. Vinva Investment Management Ltd raised its position in shares of Lockheed Martin by 3.0% in the 3rd quarter. Vinva Investment Management Ltd now owns 656 shares of the aerospace company’s stock worth $382,000 after purchasing an additional 19 shares during the last quarter. Finally, Sittner & Nelson LLC raised its stake in shares of Lockheed Martin by 4.5% in the third quarter. Sittner & Nelson LLC now owns 467 shares of the aerospace company’s stock worth $273,000 after purchasing an additional 20 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Price Performance

NYSE LMT opened at $460.71 on Thursday. The business’s fifty day moving average is $463.76 and its two-hundred day moving average is $522.84. The stock has a market capitalization of $108.45 billion, a P/E ratio of 20.70, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, research analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is 59.30%.

Wall Street Analyst Weigh In

A number of analysts have commented on LMT shares. Citigroup reduced their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Susquehanna reduced their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and lowered their target price for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Morgan Stanley cut their target price on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Finally, UBS Group decreased their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $553.67.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,133 shares of company stock valued at $3,155,916. Corporate insiders own 0.17% of the company’s stock.

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.