Archon Partners LLC Sells 5,500 Shares of Lockheed Martin Co. (NYSE:LMT)

Archon Partners LLC cut its stake in Lockheed Martin Co. (NYSE:LMT) by 13.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 35,000 shares of the aerospace company’s stock after selling 5,500 shares during the period. Lockheed Martin accounts for 2.0% of Archon Partners LLC’s holdings, making the stock its 20th biggest position. Archon Partners LLC’s holdings in Lockheed Martin were worth $17,008,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Morse Asset Management Inc raised its position in Lockheed Martin by 1.0% in the third quarter. Morse Asset Management Inc now owns 3,058 shares of the aerospace company’s stock valued at $1,788,000 after purchasing an additional 31 shares during the period. Tudor Financial Inc. acquired a new position in Lockheed Martin in the third quarter worth $557,000. Anchor Investment Management LLC boosted its stake in Lockheed Martin by 8.4% during the 3rd quarter. Anchor Investment Management LLC now owns 4,125 shares of the aerospace company’s stock valued at $2,411,000 after purchasing an additional 320 shares in the last quarter. Fulcrum Equity Management lifted its position in Lockheed Martin by 4.7% in the 3rd quarter. Fulcrum Equity Management now owns 900 shares of the aerospace company’s stock worth $526,000 after buying an additional 40 shares in the last quarter. Finally, Sculati Wealth Management LLC bought a new stake in shares of Lockheed Martin in the third quarter valued at approximately $258,000. Institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on LMT. Barclays reduced their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Susquehanna lowered their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley raised shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective for the company in a research note on Wednesday, April 16th. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Tuesday, April 1st. Finally, Wells Fargo & Company dropped their price objective on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin currently has a consensus rating of “Hold” and an average price target of $539.93.

Insiders Place Their Bets

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the sale, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on 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 sale, the vice president now owns 2,278 shares in the company, 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. In the last ninety days, insiders sold 7,133 shares of company stock valued at $3,155,916. Corporate insiders own 0.14% of the company’s stock.

Lockheed Martin Stock Down 1.2 %

LMT opened at $458.36 on Tuesday. The company has a market cap of $107.52 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The firm has a 50 day moving average price of $452.57 and a 200 day moving average price of $494.72. Lockheed Martin Co. has a 1 year low of $418.88 and a 1 year high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Sell-side analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently declared 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 2.88%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

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.