Lockheed Martin Co. (NYSE:LMT) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lessened its holdings in Lockheed Martin Co. (NYSE:LMT - Free Report) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,566 shares of the aerospace company's stock after selling 2,451 shares during the period. OLD National Bancorp IN's holdings in Lockheed Martin were worth $13,395,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LMT. Virtue Capital Management LLC increased its holdings in shares of Lockheed Martin by 112.8% in the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company's stock worth $1,315,000 after purchasing an additional 1,192 shares during the period. Bank of Montreal Can increased its holdings in shares of Lockheed Martin by 2.1% in the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company's stock worth $382,498,000 after purchasing an additional 13,253 shares during the period. Hilltop Holdings Inc. increased its holdings in shares of Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company's stock worth $7,054,000 after purchasing an additional 5,361 shares during the period. Capital Investment Advisors LLC grew its position in Lockheed Martin by 2.2% in the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company's stock worth $44,770,000 after acquiring an additional 2,011 shares in the last quarter. Finally, Old West Investment Management LLC grew its position in Lockheed Martin by 6.6% in the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company's stock worth $15,569,000 after acquiring an additional 1,643 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Price Performance

Shares of LMT stock traded up $4.76 on Thursday, hitting $459.12. 1,910,733 shares of the stock traded hands, compared to its average volume of 1,449,486. The firm has a market cap of $108.83 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 4.05 and a beta of 0.48. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The firm has a 50 day simple moving average of $495.56 and a two-hundred day simple moving average of $536.97. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping analysts' consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. As a group, equities research analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.88%. Lockheed Martin's dividend payout ratio is presently 47.79%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. StockNews.com lowered shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 3rd. Citigroup cut their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. Susquehanna cut their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a "positive" rating for the company in a research report on Wednesday. Morgan Stanley dropped their target price on shares of Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating for the company in a report on Wednesday. Finally, TD Cowen increased their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $555.80.

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.