Oak Grove Capital LLC Has $7.84 Million Position in Lockheed Martin Co. (NYSE:LMT)

Oak Grove Capital LLC decreased its holdings in Lockheed Martin Co. (NYSE:LMT) by 17.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,131 shares of the aerospace company’s stock after selling 3,484 shares during the quarter. Lockheed Martin accounts for approximately 1.2% of Oak Grove Capital LLC’s holdings, making the stock its 18th biggest holding. Oak Grove Capital LLC’s holdings in Lockheed Martin were worth $7,839,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LMT. Itau Unibanco Holding S.A. acquired a new position in Lockheed Martin in the third quarter worth about $26,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin in the 4th quarter valued at approximately $35,000. Capital Performance Advisors LLP acquired a new position in shares of Lockheed Martin in the 3rd quarter worth approximately $40,000. Legacy Investment Solutions LLC bought a new position in shares of Lockheed Martin during the 3rd quarter worth approximately $42,000. Finally, Vestor Capital LLC acquired a new stake in Lockheed Martin in the 3rd quarter valued at $46,000. 74.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LMT has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered 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 research note on Thursday, January 2nd. UBS Group dropped their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Citigroup reduced their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. JPMorgan Chase & Co. dropped their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Finally, Royal Bank of Canada reduced their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $553.67.

Lockheed Martin Trading Down 0.6 %

LMT stock opened at $449.11 on Wednesday. The business has a fifty day moving average of $464.31 and a 200-day moving average of $523.28. The company has a market cap of $105.71 billion, a P/E ratio of 20.18, a PEG ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a twelve month low of $419.70 and a twelve month high of $618.95. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last released its earnings results 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, equities research analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Insider Buying and Selling at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares in the company, valued at $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. In the last 90 days, insiders sold 7,133 shares of company stock worth $3,155,916. 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.