Korea Investment CORP Sells 34,423 Shares of Lockheed Martin Co. (NYSE:LMT)

Korea Investment CORP reduced its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 15.9% in the fourth quarter, HoldingsChannel reports. The fund owned 181,964 shares of the aerospace company’s stock after selling 34,423 shares during the period. Korea Investment CORP’s holdings in Lockheed Martin were worth $88,424,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of LMT. Virtue Capital Management LLC lifted its holdings in shares of Lockheed Martin by 112.8% during the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after purchasing an additional 1,192 shares during the last quarter. Hilltop Holdings Inc. increased its position in Lockheed Martin by 79.9% during the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after buying an additional 5,361 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its stake in Lockheed Martin by 51.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after buying an additional 3,247 shares during the last quarter. Capital Investment Advisors LLC boosted its holdings in Lockheed Martin by 2.2% in the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock worth $44,770,000 after acquiring an additional 2,011 shares in the last quarter. Finally, Brady Martz Wealth Solutions LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth $1,266,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LMT shares. Morgan Stanley dropped their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Royal Bank of Canada dropped their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Bank of America lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $685.00 to $485.00 in a report on Monday. JPMorgan Chase & Co. cut their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Finally, Barclays decreased their price target on 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $544.20.

Lockheed Martin Trading Up 0.6 %

Lockheed Martin stock opened at $444.88 on Thursday. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95. The company has a market cap of $104.72 billion, a P/E ratio of 19.99, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The business has a 50-day simple moving average of $458.36 and a two-hundred day simple moving average of $512.16.

Lockheed Martin (NYSE:LMT) 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%. Analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.97%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Insider Buying and Selling at Lockheed Martin

In related 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 value of $312,925.27. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction 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 completion of the sale, the insider now owns 2,000 shares of the company’s stock, valued at $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 sold 7,133 shares of company stock valued at $3,155,916. Company insiders own 0.17% of the company’s stock.

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.