Wells Fargo & Company MN Reduces Position in Lockheed Martin Co. (NYSE:LMT)

Wells Fargo & Company MN reduced its holdings in Lockheed Martin Co. (NYSE:LMT) by 22.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,955,497 shares of the aerospace company’s stock after selling 550,659 shares during the period. Wells Fargo & Company MN owned approximately 0.83% of Lockheed Martin worth $950,254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LMT. Proficio Capital Partners LLC boosted its holdings in shares of Lockheed Martin by 53,784.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock worth $600,412,000 after purchasing an additional 1,233,275 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Lockheed Martin by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after buying an additional 1,132,461 shares in the last quarter. Van ECK Associates Corp boosted its stake in Lockheed Martin by 1,239.6% during the fourth quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after buying an additional 507,312 shares during the last quarter. Wellington Management Group LLP grew its holdings in Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after buying an additional 240,306 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter worth $77,376,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Shares of LMT opened at $454.08 on Friday. The stock has a 50-day simple moving average of $452.66 and a 200-day simple moving average of $507.43. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95. The stock has a market capitalization of $106.52 billion, a PE ratio of 20.40, a PEG ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Analyst Upgrades and Downgrades

LMT has been the topic of several recent research reports. Royal Bank of Canada cut shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Wells Fargo & Company restated an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. Citigroup lowered their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Melius lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, Susquehanna dropped their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research 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 assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $539.53.

Insider Buying and Selling

In related news, 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 transaction of $1,421,495.46. Following the sale, the insider now directly owns 2,000 shares in the company, valued at $884,840. This trade represents a 61.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the transaction, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock worth $3,155,916 over the last 90 days. 0.17% of the stock is owned by insiders.

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.