Spire Wealth Management Sells 324 Shares of Lockheed Martin Co. (NYSE:LMT)

Spire Wealth Management lowered its stake in Lockheed Martin Co. (NYSE:LMT) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,273 shares of the aerospace company’s stock after selling 324 shares during the quarter. Spire Wealth Management’s holdings in Lockheed Martin were worth $4,703,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich lifted its position in Lockheed Martin by 73.0% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 64 shares of the aerospace company’s stock worth $26,000 after buying an additional 27 shares during the last quarter. Activest Wealth Management raised its position in Lockheed Martin by 1,200.0% in the 4th 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 period. Milestone Investment Advisors LLC bought a new stake in shares of Lockheed Martin in the third quarter valued at about $33,000. Iron Horse Wealth Management LLC grew its holdings in Lockheed Martin by 1,925.0% during the 4th quarter. Iron Horse Wealth Management LLC now owns 81 shares of the aerospace company’s stock worth $37,000 after acquiring an additional 77 shares in the last quarter. Finally, Providence Capital Advisors LLC purchased a new position in Lockheed Martin during the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the topic of several research reports. Royal Bank of Canada cut their price objective 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. Wells Fargo & Company boosted their price objective on shares of Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. Susquehanna lowered their target price on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research note on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft increased their price target on Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Finally, StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $485.40.

Insiders Place Their Bets

In other 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 value of $2,827,726.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of the stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $1,747,116.58. The disclosure for this sale can be found here. Insiders sold 16,874 shares of company stock valued at $7,249,946 in the last three months. 0.14% of the stock is currently owned by insiders.

Lockheed Martin Price Performance

Shares of NYSE LMT traded up $0.87 during trading on Monday, hitting $462.78. The company had a trading volume of 796,271 shares, compared to its average volume of 1,149,090. The firm has a market capitalization of $111.04 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 4.23 and a beta of 0.46. The stock has a fifty day simple moving average of $447.42 and a two-hundred day simple moving average of $445.41. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $479.50.

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

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Monday, June 3rd. Lockheed Martin’s dividend payout ratio (DPR) is currently 46.10%.

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.