Waterloo Capital L.P. Lowers Position in Lockheed Martin Co. (NYSE:LMT)

Waterloo Capital L.P. decreased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 15.1% during the fourth quarter, Holdings Channel reports. The fund owned 1,565 shares of the aerospace company’s stock after selling 279 shares during the period. Waterloo Capital L.P.’s holdings in Lockheed Martin were worth $761,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in Lockheed Martin in the fourth quarter worth $32,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Lockheed Martin during the 4th quarter valued at $34,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin in the 4th quarter worth about $35,000. Legacy Investment Solutions LLC bought a new position in shares of Lockheed Martin in the 3rd quarter worth about $42,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in Lockheed Martin during the 4th quarter valued at about $42,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 4.9 %

LMT opened at $432.72 on Monday. The stock has a market capitalization of $101.50 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 2.07 and a beta of 0.39. The firm has a 50 day moving average price of $451.38 and a 200-day moving average price of $505.61. Lockheed Martin Co. has a twelve month low of $413.96 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 announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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 research analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s dividend payout ratio is 59.30%.

Insiders Place Their Bets

In other news, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the sale, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. This represents a 23.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 value of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares in the company, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and cut their price objective for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and cut their price target for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Morgan Stanley lowered their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. StockNews.com cut Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Finally, Truist Financial initiated coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin currently has an average rating of “Hold” and a consensus price target of $539.53.

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.