Wellington Management Group LLP Sells 461,254 Shares of Lockheed Martin Co. (NYSE:LMT)

Wellington Management Group LLP lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 15.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,613,601 shares of the aerospace company's stock after selling 461,254 shares during the period. Wellington Management Group LLP owned 1.11% of Lockheed Martin worth $1,270,053,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LMT. Itau Unibanco Holding S.A. bought a new stake in Lockheed Martin during the 3rd quarter valued at about $26,000. Millstone Evans Group LLC purchased a new position in Lockheed Martin in the 4th quarter worth approximately $32,000. Mizuho Securities Co. Ltd. bought a new position in Lockheed Martin in the 4th quarter valued at approximately $34,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin in the 4th quarter worth $35,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Lockheed Martin in the third quarter worth $42,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on LMT shares. Morgan Stanley decreased 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. Wells Fargo & Company restated an "equal weight" rating on shares of Lockheed Martin in a report on Monday, March 10th. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a "buy" rating to a "hold" rating and dropped their price target for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. Truist Financial initiated coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a "buy" rating and a $579.00 target price on the stock. Finally, Barclays reduced 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 report on Monday, January 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Lockheed Martin has an average rating of "Hold" and an average price target of $539.53.

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Insider Buying and Selling at Lockheed Martin

In other news, VP Harry Edward Paul III sold 707 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the sale, the insider now directly owns 2,000 shares of the company's stock, valued at $884,840. This 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 over the last quarter. Insiders own 0.17% of the company's stock.

Lockheed Martin Price Performance

LMT traded up $4.47 during trading hours on Thursday, hitting $457.34. The company's stock had a trading volume of 840,714 shares, compared to its average volume of 1,210,180. Lockheed Martin Co. has a 12 month low of $419.70 and a 12 month high of $618.95. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The business's 50-day moving average price is $453.52 and its 200-day moving average price is $507.80. The stock has a market cap of $107.28 billion, a price-to-earnings ratio of 20.55, a P/E/G ratio of 2.07 and a beta of 0.39.

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 the consensus estimate 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 expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin's payout ratio is 59.30%.

Lockheed Martin Company 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.