ARK Investment Management LLC Sells 1,288 Shares of Lockheed Martin Co. (NYSE:LMT)

ARK Investment Management LLC cut its stake in Lockheed Martin Co. (NYSE:LMT) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,013 shares of the aerospace company’s stock after selling 1,288 shares during the quarter. ARK Investment Management LLC’s holdings in Lockheed Martin were worth $10,697,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LMT. Itau Unibanco Holding S.A. bought a new position in shares of Lockheed Martin in the third quarter valued at about $26,000. Heck Capital Advisors LLC bought a new position in shares of Lockheed Martin in the fourth quarter valued at about $35,000. Capital Performance Advisors LLP bought a new position in shares of Lockheed Martin in the third quarter valued at about $40,000. Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin in the third quarter valued at about $42,000. Finally, Vestor Capital LLC acquired a new position in shares of Lockheed Martin in the third quarter valued at about $46,000. 74.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on LMT shares. UBS Group decreased their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price target 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. Barclays decreased their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company decreased their price target on shares of Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. Finally, StockNews.com downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $555.60.

Lockheed Martin Stock Up 1.8 %

LMT stock opened at $448.34 on Wednesday. The stock has a market capitalization of $105.53 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 12 month low of $419.70 and a 12 month high of $618.95. The firm has a 50-day moving average price of $468.06 and a 200-day moving average price of $527.23.

Lockheed Martin (NYSE:LMT) last posted its 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%. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

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 issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.94%. 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.