Renaissance Technologies LLC Has $169.30 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Renaissance Technologies LLC decreased its stake in Lockheed Martin Co. (NYSE:LMT) by 6.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 348,400 shares of the aerospace company’s stock after selling 24,800 shares during the period. Renaissance Technologies LLC’s holdings in Lockheed Martin were worth $169,301,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LMT. Millstone Evans Group LLC bought a new position in Lockheed Martin during the 4th quarter worth approximately $32,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Lockheed Martin during the fourth quarter worth about $34,000. Heck Capital Advisors LLC bought a new position in shares of Lockheed Martin during the 4th quarter valued at about $35,000. Legacy Investment Solutions LLC bought a new stake in Lockheed Martin during the 3rd quarter worth approximately $42,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Lockheed Martin during the 4th quarter worth approximately $42,000. Institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

LMT has been the topic of a number of research analyst reports. Barclays dropped their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. UBS Group cut their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Melius Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Susquehanna reduced their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $539.53.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $430.41 on Tuesday. The company has a 50-day moving average price of $449.92 and a two-hundred day moving average price of $504.66. Lockheed Martin Co. has a twelve month low of $418.88 and a twelve month high of $618.95. 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 firm has a market capitalization of $100.96 billion, a PE ratio of 19.34, a P/E/G ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating 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%. Equities analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Monday, March 3rd. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Insiders Place Their Bets

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction dated 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Harry Edward Paul III sold 707 shares of the business’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 value of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock valued at $3,155,916 in the last quarter. Corporate 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.