Lockheed Martin Co. (NYSE:LMT) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. decreased its holdings in Lockheed Martin Co. (NYSE:LMT - Free Report) by 25.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 286,387 shares of the aerospace company's stock after selling 98,832 shares during the quarter. Prudential Financial Inc. owned approximately 0.12% of Lockheed Martin worth $139,167,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Proficio Capital Partners LLC increased its position in Lockheed Martin by 53,784.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company's stock worth $600,412,000 after purchasing an additional 1,233,275 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Lockheed Martin by 17.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company's stock worth $3,630,492,000 after buying an additional 1,132,461 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Lockheed Martin by 1,239.6% during the 4th quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company's stock worth $266,410,000 after buying an additional 507,312 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company's stock worth $1,797,437,000 after buying an additional 240,306 shares during the period. Finally, FMR LLC boosted its holdings in Lockheed Martin by 6.6% in the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company's stock valued at $1,981,088,000 after acquiring an additional 209,591 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Remove Ads

Lockheed Martin Stock Down 0.7 %

LMT traded down $2.91 on Thursday, reaching $442.27. The company's stock had a trading volume of 1,559,015 shares, compared to its average volume of 1,144,743. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95. The business's 50 day moving average is $457.47 and its 200 day moving average is $511.67. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a market cap of $104.10 billion, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

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

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.98%. Lockheed Martin's dividend payout ratio (DPR) is presently 59.30%.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction 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 sale, the vice president now directly owns 2,278 shares of the company's stock, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm'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 completion of the transaction, the insider now owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. 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. Insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Susquehanna cut their price objective on Lockheed Martin from $590.00 to $550.00 and set a "positive" rating on the stock in a report on Wednesday, January 29th. Bank of America lowered shares of Lockheed Martin from a "buy" rating to a "neutral" rating and cut their price target for the company from $685.00 to $485.00 in a report on Monday. Citigroup decreased 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. Royal Bank of Canada downgraded shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and cut their target price for the company from $550.00 to $480.00 in a research note on Thursday. Finally, UBS Group decreased their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a "neutral" rating for the company in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Lockheed Martin has an average rating of "Hold" and an average target price of $539.53.

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.