Clearbridge Investments LLC Reduces Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Clearbridge Investments LLC lowered its position in Lockheed Martin Co. (NYSE:LMT - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 68,880 shares of the aerospace company's stock after selling 1,358 shares during the period. Clearbridge Investments LLC's holdings in Lockheed Martin were worth $33,472,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of LMT. Virtue Capital Management LLC raised its position in Lockheed Martin by 112.8% during the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company's stock worth $1,315,000 after acquiring an additional 1,192 shares during the period. Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of Lockheed Martin by 51.7% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company's stock worth $4,630,000 after purchasing an additional 3,247 shares during the last quarter. Capital Investment Advisors LLC lifted its stake in Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company's stock valued at $44,770,000 after buying an additional 2,011 shares in the last quarter. Brady Martz Wealth Solutions LLC acquired a new stake in Lockheed Martin in the 4th quarter worth about $1,266,000. Finally, World Investment Advisors LLC increased its stake in Lockheed Martin by 55.1% during the 3rd quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company's stock worth $3,781,000 after buying an additional 2,297 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

LMT has been the topic of a number of research analyst reports. StockNews.com lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Tuesday. Melius Research cut shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Bank of America cut shares of Lockheed Martin from a "buy" rating to a "neutral" rating and reduced their target price for the company from $685.00 to $485.00 in a research report on Monday, March 24th. Susquehanna lowered their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a "positive" rating on the stock in a research report on Wednesday, January 29th. Finally, Citigroup dropped their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $539.53.

Insider Transactions at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company's stock in a transaction that occurred 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 approximately $884,840. This represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $312,925.27. Following the completion of the sale, the vice president now directly owns 2,278 shares in the company, 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. Over the last 90 days, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is currently owned by company insiders.

Lockheed Martin Trading Up 0.3 %

Shares of LMT traded up $1.21 during midday trading on Thursday, hitting $454.08. 1,813,627 shares of the stock were exchanged, compared to its average volume of 1,213,905. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The stock has a fifty day simple moving average of $453.52 and a 200 day simple moving average of $507.80. The firm has a market cap of $106.52 billion, a P/E ratio of 20.40, a P/E/G ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating 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, research analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders 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 annualized dividend and a dividend yield of 2.91%. Lockheed Martin's dividend payout ratio (DPR) is 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.