Fmr LLC Sells 378,089 Shares of Lockheed Martin Co. (NYSE:LMT)

Fmr LLC lessened its position in Lockheed Martin Co. (NYSE:LMT) by 11.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,010,936 shares of the aerospace company’s stock after selling 378,089 shares during the period. Fmr LLC owned approximately 1.28% of Lockheed Martin worth $1,463,134,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Morgan Stanley dropped their target price on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a report 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. Citigroup reduced their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. Finally, UBS Group cut their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $539.53.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $432.72 on Monday. 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 stock has a fifty day simple moving average of $451.38 and a two-hundred day simple moving average of $505.61. Lockheed Martin Co. has a 1-year low of $413.96 and a 1-year high of $618.95. The firm has a market cap of $101.50 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping 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%. Analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

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

Insider Buying and Selling

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the sale, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. 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. Company insiders own 0.17% of the company’s stock.

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.