Legal & General Group Plc Sells 366,915 Shares of Lockheed Martin Co. (NYSE:LMT)

Legal & General Group Plc trimmed its position in Lockheed Martin Co. (NYSE:LMT - Free Report) by 28.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 945,007 shares of the aerospace company's stock after selling 366,915 shares during the quarter. Legal & General Group Plc owned 0.40% of Lockheed Martin worth $459,217,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. acquired a new position in Lockheed Martin during the fourth quarter worth about $34,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin in the fourth quarter valued at approximately $35,000. Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin during the third quarter worth $42,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Lockheed Martin in the 4th quarter valued at $42,000. Institutional investors own 74.19% of the company's stock.

Insider Buying and Selling

In related news, VP Harry Edward Paul III sold 707 shares of the firm's 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 transaction, the vice president now directly owns 2,278 shares of the company's stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business's stock in a transaction dated 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 transaction, the insider now owns 2,000 shares in the company, 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. Insiders have sold 7,133 shares of company stock worth $3,155,916 in the last quarter. Insiders own 0.17% of the company's stock.

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Lockheed Martin Stock Up 2.5 %

NYSE:LMT traded up $11.67 on Friday, hitting $475.37. The stock had a trading volume of 677,044 shares, compared to its average volume of 1,235,604. 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 Co. has a 52 week low of $418.88 and a 52 week high of $618.95. The business's fifty day moving average is $449.60 and its 200 day moving average is $501.42. The company has a market cap of $111.51 billion, a PE ratio of 21.27, a P/E/G ratio of 2.07 and a beta of 0.39.

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

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.78%. The ex-dividend date was Monday, March 3rd. Lockheed Martin's payout ratio is presently 59.30%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. StockNews.com downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Barclays lowered their target price on Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. UBS Group lowered their price objective on Lockheed Martin from $527.00 to $508.00 and set a "neutral" rating for the company in a research report on Wednesday, January 29th. Finally, Morgan Stanley reduced their target price on Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Lockheed Martin has an average rating of "Hold" and a consensus target price of $536.60.

About Lockheed Martin

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.