Lockheed Martin Co. (NYSE:LMT) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lessened its holdings in Lockheed Martin Co. (NYSE:LMT - Free Report) by 22.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,955,497 shares of the aerospace company's stock after selling 550,659 shares during the period. Wells Fargo & Company MN owned approximately 0.83% of Lockheed Martin worth $950,254,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Millstone Evans Group LLC acquired a new position in Lockheed Martin during the 4th quarter worth $32,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Lockheed Martin in the 4th quarter valued at approximately $34,000. Heck Capital Advisors LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at $35,000. Legacy Investment Solutions LLC purchased a new stake in shares of Lockheed Martin during the 3rd quarter worth $42,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in Lockheed Martin in the fourth quarter valued at $42,000. Institutional investors and hedge funds own 74.19% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on LMT. Royal Bank of Canada downgraded Lockheed Martin from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Melius Research downgraded Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. JPMorgan Chase & Co. cut their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. UBS Group lowered their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a "neutral" rating for the company in a report on Wednesday, January 29th. Finally, StockNews.com lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Lockheed Martin presently has a consensus rating of "Hold" and an average target price of $539.53.

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Lockheed Martin Stock Performance

LMT traded down $22.06 on Friday, hitting $432.72. 2,391,049 shares of the company traded hands, compared to its average volume of 1,220,992. The company has a 50 day moving average of $451.38 and a 200-day moving average of $506.03. Lockheed Martin Co. has a 12-month low of $419.70 and a 12-month high of $618.95. The stock has a market capitalization of $101.50 billion, a PE ratio of 19.44, a PEG ratio of 2.07 and a beta of 0.39. 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 (NYSE:LMT - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were issued a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Monday, March 3rd. Lockheed Martin's payout ratio is 59.30%.

Insider Transactions at Lockheed Martin

In other news, VP Harry Edward Paul III sold 707 shares of the company's 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 transaction, the vice president now directly owns 2,278 shares of the company's stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 sale, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock worth $3,155,916 over the last ninety days. 0.17% of the stock is currently owned by company insiders.

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.