Rockefeller Capital Management L.P. Sells 7,677 Shares of Lockheed Martin Co. (NYSE:LMT)

Rockefeller Capital Management L.P. decreased its holdings in Lockheed Martin Co. (NYSE:LMT - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 115,312 shares of the aerospace company's stock after selling 7,677 shares during the period. Rockefeller Capital Management L.P.'s holdings in Lockheed Martin were worth $56,034,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Morse Asset Management Inc increased its holdings in shares of Lockheed Martin by 1.0% during the third quarter. Morse Asset Management Inc now owns 3,058 shares of the aerospace company's stock worth $1,788,000 after buying an additional 31 shares in the last quarter. XTX Topco Ltd acquired a new position in Lockheed Martin in the 3rd quarter worth about $447,000. Tudor Financial Inc. bought a new position in Lockheed Martin in the third quarter valued at about $557,000. Anchor Investment Management LLC raised its position in Lockheed Martin by 8.4% in the third quarter. Anchor Investment Management LLC now owns 4,125 shares of the aerospace company's stock valued at $2,411,000 after purchasing an additional 320 shares during the last quarter. Finally, Fulcrum Equity Management boosted its stake in shares of Lockheed Martin by 4.7% during the third quarter. Fulcrum Equity Management now owns 900 shares of the aerospace company's stock valued at $526,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 74.19% of the company's stock.

Insiders Place Their Bets

In other news, VP Harry Edward Paul III sold 707 shares of the business'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 completion of the sale, the vice president now directly owns 2,278 shares of the company's stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,133 shares of company stock worth $3,155,916. Corporate insiders own 0.17% of the company's stock.

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Analyst Upgrades and Downgrades

LMT has been the subject of a number of research reports. Bank of America lowered shares of Lockheed Martin from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $685.00 to $485.00 in a report on Monday, March 24th. Barclays dropped their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Morgan Stanley lowered their target price on Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. Finally, UBS Group reduced their price target on Lockheed Martin from $527.00 to $508.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $536.60.

Lockheed Martin Trading Up 0.1 %

Shares of Lockheed Martin stock traded up $0.54 on Monday, reaching $475.44. 1,079,090 shares of the company's stock were exchanged, compared to its average volume of 1,238,997. The firm's 50-day moving average is $450.55 and its two-hundred day moving average is $499.42. The company has a market capitalization of $111.53 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. Lockheed Martin Co. has a 52 week low of $418.88 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping analysts' consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Sell-side analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Monday, March 3rd. Lockheed Martin's dividend payout ratio (DPR) is currently 59.30%.

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.