Fmr LLC Reduces Stake in Lockheed Martin Co. (NYSE:LMT)

FMR LLC decreased its holdings in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 11.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,010,936 shares of the aerospace company's stock after selling 378,089 shares during the quarter. FMR LLC owned 1.28% of Lockheed Martin worth $1,463,134,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Sepio Capital LP lifted its holdings in Lockheed Martin by 50.5% in the fourth quarter. Sepio Capital LP now owns 709 shares of the aerospace company's stock valued at $345,000 after acquiring an additional 238 shares during the period. Darden Wealth Group Inc lifted its position in shares of Lockheed Martin by 33.7% during the fourth quarter. Darden Wealth Group Inc now owns 655 shares of the aerospace company's stock worth $318,000 after purchasing an additional 165 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Lockheed Martin by 1.6% in the 4th quarter. Russell Investments Group Ltd. now owns 58,462 shares of the aerospace company's stock valued at $28,408,000 after buying an additional 942 shares during the period. Hurley Capital LLC purchased a new stake in Lockheed Martin during the fourth quarter worth approximately $774,000. Finally, Old West Investment Management LLC increased its position in shares of Lockheed Martin by 2.2% during the fourth quarter. Old West Investment Management LLC now owns 27,230 shares of the aerospace company's stock worth $13,232,000 after purchasing an additional 597 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Analysts Set New Price Targets

LMT has been the subject of several recent analyst reports. Royal Bank of Canada cut shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and reduced their price objective for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. Bank of America cut shares of Lockheed Martin from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $685.00 to $485.00 in a research report on Monday, March 24th. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a "buy" rating to a "hold" rating and cut their target price for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Morgan Stanley decreased their target price 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. Finally, JPMorgan Chase & Co. reduced their target price on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $536.60.

Insider Activity

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The stock was 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. The trade was a 61.63 % decrease in their ownership of the stock. The transaction 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 the firm's stock in a transaction that occurred 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 transaction, the vice president now directly owns 2,278 shares of the company's stock, valued at approximately $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 quarter, insiders sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.17% of the company's stock.

Lockheed Martin Stock Down 0.3 %

NYSE:LMT traded down $1.54 during trading hours on Thursday, reaching $460.71. The company had a trading volume of 879,300 shares, compared to its average volume of 1,234,100. The firm has a market cap of $108.07 billion, a price-to-earnings ratio of 20.67, a P/E/G ratio of 2.07 and a beta of 0.39. The business's 50-day simple moving average is $449.42 and its two-hundred day simple moving average is $502.21. Lockheed Martin Co. has a twelve month low of $418.88 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 - Get Free Report) 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%. On average, equities analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were paid a $3.30 dividend. The ex-dividend date was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.87%. Lockheed Martin's dividend payout ratio (DPR) is 59.30%.

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.