Berkshire Asset Management LLC PA Sells 4,302 Shares of Lockheed Martin Co. (NYSE:LMT)

Berkshire Asset Management LLC PA lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 4.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 86,647 shares of the aerospace company’s stock after selling 4,302 shares during the period. Lockheed Martin comprises about 2.0% of Berkshire Asset Management LLC PA’s holdings, making the stock its 14th biggest position. Berkshire Asset Management LLC PA’s holdings in Lockheed Martin were worth $43,060,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in LMT. Charles Schwab Investment Management Inc. lifted its stake in Lockheed Martin by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after purchasing an additional 1,132,461 shares during the period. Geode Capital Management LLC lifted its stake in Lockheed Martin by 1.8% during the third quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock worth $2,816,898,000 after purchasing an additional 83,997 shares during the period. FMR LLC lifted its stake in Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares during the period. Wellington Management Group LLP lifted its stake in Lockheed Martin by 8.5% during the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Lockheed Martin by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company’s stock worth $847,361,000 after buying an additional 15,085 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

LMT has been the subject of several recent analyst reports. Susquehanna dropped their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Barclays dropped their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Wells Fargo & Company dropped their price objective on shares of Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, Royal Bank of Canada dropped their price objective on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $553.67.

Insider Transactions at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock valued at $3,155,916 over the last three months. 0.17% of the stock is currently owned by corporate insiders.

Lockheed Martin Price Performance

Shares of LMT stock opened at $461.17 on Friday. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95. The stock has a market cap of $108.55 billion, a PE ratio of 20.72, a PEG ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The firm’s 50 day moving average price is $463.18 and its two-hundred day moving average price is $522.42.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.86%. Lockheed Martin’s dividend payout ratio is 59.30%.

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.