Axxcess Wealth Management LLC Sells 497 Shares of Lockheed Martin Co. (NYSE:LMT)

Axxcess Wealth Management LLC lowered its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 7.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,500 shares of the aerospace company’s stock after selling 497 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Lockheed Martin were worth $3,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in Lockheed Martin during the third quarter worth about $26,000. Heck Capital Advisors LLC bought a new position in shares of Lockheed Martin during the 4th quarter worth approximately $35,000. Legacy Investment Solutions LLC acquired a new stake in Lockheed Martin in the 3rd quarter valued at $42,000. Sugar Maple Asset Management LLC bought a new stake in Lockheed Martin in the fourth quarter valued at $47,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Lockheed Martin during the fourth quarter worth $52,000. Institutional investors own 74.19% of the company’s stock.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.14% of the stock is currently owned by company insiders.

Lockheed Martin Stock Up 0.4 %

Shares of NYSE LMT opened at $469.33 on Wednesday. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95. The firm’s 50-day moving average is $461.50 and its 200-day moving average is $516.79. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $110.47 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

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%. Equities analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.81%. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Analyst Ratings Changes

Several research firms have recently weighed in on LMT. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. 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. Truist Financial started coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. Morgan Stanley decreased their price target 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, JPMorgan Chase & Co. reduced their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $554.20.

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.