Geode Capital Management LLC Buys 59,597 Shares of Lockheed Martin Co. (NYSE:LMT)

Geode Capital Management LLC lifted its holdings in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,887,242 shares of the aerospace company's stock after purchasing an additional 59,597 shares during the quarter. Geode Capital Management LLC owned 2.08% of Lockheed Martin worth $2,374,557,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of LMT. Itau Unibanco Holding S.A. purchased a new stake in shares of Lockheed Martin during the 3rd quarter valued at $26,000. Millstone Evans Group LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at about $32,000. Mizuho Securities Co. Ltd. bought a new stake in Lockheed Martin during the fourth quarter worth about $34,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin in the 4th quarter worth about $35,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Lockheed Martin during the 3rd quarter valued at about $42,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lockheed Martin

In other news, VP Harry Edward Paul III sold 707 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the sale, the vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $1,421,495.46. Following the transaction, the insider now directly owns 2,000 shares of the company's stock, valued at approximately $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. 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. Corporate insiders own 0.17% of the company's stock.

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Analyst Ratings Changes

LMT has been the subject of several research reports. Citigroup cut their target price on Lockheed Martin from $700.00 to $600.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. Melius Research lowered shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a "buy" rating to a "hold" rating and decreased their target price for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. reduced their price objective on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Finally, Royal Bank of Canada lowered Lockheed Martin from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Lockheed Martin presently has an average rating of "Hold" and a consensus price target of $539.53.

Lockheed Martin Trading Up 1.0 %

Shares of Lockheed Martin stock traded up $4.28 during midday trading on Wednesday, reaching $452.92. 1,268,982 shares of the company's stock traded hands, compared to its average volume of 1,210,031. The stock has a 50 day moving average of $454.45 and a 200-day moving average of $508.19. Lockheed Martin Co. has a 12 month low of $419.70 and a 12 month high of $618.95. The company has a market cap of $106.61 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. 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 (NYSE:LMT - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 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%. As a group, equities analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were issued a dividend of $3.30 per share. The ex-dividend date was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.91%. 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.