Adage Capital Partners GP L.L.C. Lowers Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Adage Capital Partners GP L.L.C. lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 77.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,071 shares of the aerospace company's stock after selling 138,922 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in Lockheed Martin were worth $19,958,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Millstone Evans Group LLC bought a new position in Lockheed Martin in the fourth quarter worth about $32,000. Mizuho Securities Co. Ltd. bought a new position in shares of Lockheed Martin during the 4th quarter worth approximately $34,000. Heck Capital Advisors LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at approximately $35,000. Redwood Park Advisors LLC acquired a new stake in Lockheed Martin in the fourth quarter valued at approximately $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in Lockheed Martin in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Price Performance

Shares of NYSE:LMT traded down $1.14 during trading on Monday, reaching $476.50. The stock had a trading volume of 1,159,722 shares, compared to its average volume of 1,252,496. The stock has a market capitalization of $111.64 billion, a PE ratio of 21.41, a P/E/G ratio of 2.07 and a beta of 0.39. Lockheed Martin Co. has a 52 week low of $418.88 and a 52 week high of $618.95. The business's 50-day moving average price is $455.79 and its 200 day moving average price is $490.90. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. The business had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. As a group, equities analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin's dividend payout ratio is currently 57.02%.

Insider Activity at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company's 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 owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Harry Edward Paul III sold 707 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now owns 2,278 shares in the company, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock valued at $3,155,916 over the last quarter. 0.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LMT shares. Barclays decreased their target price on Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a report on Monday, January 6th. Baird R W upgraded shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Bank of America lowered shares of Lockheed Martin from a "buy" rating to a "neutral" rating and lowered their price target for the company from $685.00 to $485.00 in a report on Monday, March 24th. Citigroup reduced their price objective 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. Finally, StockNews.com upgraded Lockheed Martin from a "hold" rating to a "buy" rating in a research note on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin presently has an average rating of "Moderate Buy" and a consensus target price of $544.79.

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.