Fmr LLC Sells 378,089 Shares of Lockheed Martin Co. (NYSE:LMT)

Fmr LLC decreased its stake in Lockheed Martin Co. (NYSE:LMT) by 11.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,010,936 shares of the aerospace company’s stock after selling 378,089 shares during the period. Fmr LLC’s holdings in Lockheed Martin were worth $1,463,134,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sepio Capital LP raised its holdings in shares of Lockheed Martin by 50.5% during the 4th quarter. Sepio Capital LP now owns 709 shares of the aerospace company’s stock valued at $345,000 after buying an additional 238 shares in the last quarter. Darden Wealth Group Inc grew its position in Lockheed Martin by 33.7% during the fourth quarter. Darden Wealth Group Inc now owns 655 shares of the aerospace company’s stock valued at $318,000 after acquiring an additional 165 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Lockheed Martin by 1.6% during the fourth quarter. Russell Investments Group Ltd. now owns 58,462 shares of the aerospace company’s stock worth $28,408,000 after acquiring an additional 942 shares in the last quarter. Hurley Capital LLC bought a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $774,000. Finally, Old West Investment Management LLC boosted its stake in shares of Lockheed Martin by 2.2% in the 4th quarter. Old West Investment Management LLC now owns 27,230 shares of the aerospace company’s stock valued at $13,232,000 after purchasing an additional 597 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insiders Place Their Bets

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 2,000 shares in the company, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the transaction, the vice president now owns 2,278 shares in the company, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is owned by corporate insiders.

Lockheed Martin Stock Performance

NYSE:LMT opened at $432.72 on Monday. 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 Co. has a twelve month low of $413.96 and a twelve month high of $618.95. The stock has a market cap of $101.50 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. The firm’s fifty day simple moving average is $451.38 and its 200 day simple moving average is $505.61.

Lockheed Martin (NYSE:LMT) last announced its quarterly 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%. As a group, research analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were given a dividend of $3.30 per share. The ex-dividend date was Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 3.05%. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on LMT shares. Barclays decreased their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. UBS Group lowered their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. StockNews.com cut Lockheed Martin from a “buy” rating to a “hold” rating in a report on Tuesday, April 1st. Citigroup decreased their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Finally, Truist Financial began coverage on Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Lockheed Martin has an average rating of “Hold” and a consensus price target of $539.53.

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.