Spire Wealth Management Lowers Holdings in Lockheed Martin Co. (NYSE:LMT)

Spire Wealth Management reduced 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 and Exchange Commission. The firm owned 10,273 shares of the aerospace company’s stock after selling 324 shares during the period. Spire Wealth Management’s holdings in Lockheed Martin were worth $4,703,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Lockheed Martin by 1.3% during the third quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock worth $9,120,920,000 after acquiring an additional 279,162 shares during the period. Charles Schwab Investment Management Inc. raised its position in Lockheed Martin by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,686,937 shares of the aerospace company’s stock worth $2,302,388,000 after buying an additional 97,916 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Lockheed Martin by 4.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock worth $1,291,816,000 after acquiring an additional 121,358 shares during the period. Northern Trust Corp boosted its holdings in shares of Lockheed Martin by 4.0% in the third quarter. Northern Trust Corp now owns 2,388,377 shares of the aerospace company’s stock valued at $976,751,000 after acquiring an additional 91,109 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Lockheed Martin by 10,526.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock worth $617,416,000 after acquiring an additional 1,349,409 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock traded up $0.87 on Monday, reaching $462.78. 796,271 shares of the company were exchanged, compared to its average volume of 1,149,090. The firm has a market cap of $111.04 billion, a price-to-earnings ratio of 16.89, a P/E/G ratio of 4.23 and a beta of 0.46. The company’s 50-day moving average is $447.42 and its two-hundred day moving average is $445.41. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.11 and a current ratio of 1.30. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $479.50.

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

Lockheed Martin Announces Dividend

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

Insiders Place Their Bets

In related news, insider Gregory M. Ulmer sold 6,204 shares of Lockheed Martin stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the transaction, the insider now directly owns 12,604 shares in the company, valued at approximately $5,434,718.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lockheed Martin news, insider Gregory M. Ulmer sold 6,204 shares of Lockheed Martin stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the transaction, the insider now directly owns 12,604 shares in the company, valued at approximately $5,434,718.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,874 shares of company stock worth $7,249,946. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

LMT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $475.00 to $518.00 in a research note on Monday, April 15th. Susquehanna reduced their target price on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating on the stock in a research report on Wednesday, January 24th. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Morgan Stanley decreased their target price on shares of Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada dropped their price target on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Lockheed Martin has an average rating of “Hold” and a consensus target price of $485.40.

Lockheed Martin Company 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.