Lockheed Martin Co. (NYSE:LMT) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC decreased its position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 5.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 22,013 shares of the aerospace company's stock after selling 1,288 shares during the period. ARK Investment Management LLC's holdings in Lockheed Martin were worth $10,697,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of LMT. Salomon & Ludwin LLC raised its stake in Lockheed Martin by 20.5% during the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company's stock worth $62,000 after purchasing an additional 18 shares during the period. Nisa Investment Advisors LLC raised its stake in Lockheed Martin by 67.4% during the third quarter. Nisa Investment Advisors LLC now owns 89,817 shares of the aerospace company's stock worth $52,503,000 after purchasing an additional 36,157 shares during the period. Autumn Glory Partners LLC raised its stake in Lockheed Martin by 172.3% during the third quarter. Autumn Glory Partners LLC now owns 2,777 shares of the aerospace company's stock worth $1,623,000 after purchasing an additional 1,757 shares during the period. Orrstown Financial Services Inc. raised its stake in Lockheed Martin by 69.6% during the third quarter. Orrstown Financial Services Inc. now owns 1,028 shares of the aerospace company's stock worth $601,000 after purchasing an additional 422 shares during the period. Finally, Strategic Wealth Investment Group LLC raised its stake in Lockheed Martin by 13.5% during the third quarter. Strategic Wealth Investment Group LLC now owns 17,849 shares of the aerospace company's stock worth $10,814,000 after purchasing an additional 2,118 shares during the period. Hedge funds and other institutional investors own 74.19% of the company's stock.

Analyst Ratings Changes

LMT has been the topic of a number of research reports. Citigroup cut their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. Morgan Stanley cut their target price on shares of Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 29th. Truist Financial started coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They set a "buy" rating and a $579.00 price target for the company. Susquehanna lowered their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a "positive" rating for the company in a report on Wednesday, January 29th. Finally, Barclays lowered their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $553.67.

Insider Activity

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction dated 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 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 document filed with the SEC, which is available through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction dated 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 sale, the vice president now owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,133 shares of company stock valued at $3,155,916. Company insiders own 0.17% of the company's stock.

Lockheed Martin Stock Up 0.8 %

LMT stock traded up $3.73 during mid-day trading on Friday, hitting $450.19. 1,432,091 shares of the company were exchanged, compared to its average volume of 1,574,859. The company has a market capitalization of $105.97 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a twelve month low of $419.70 and a twelve month high of $618.95. The firm has a fifty day simple moving average of $465.79 and a 200 day simple moving average of $525.34.

Lockheed Martin (NYSE:LMT - Get Free Report) 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 net margin of 7.51% and a return on equity of 101.47%. On average, research analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin's dividend payout ratio (DPR) is presently 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.