Lockheed Martin Co. (NYSE:LMT) Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 23.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 32,094 shares of the aerospace company’s stock after selling 9,622 shares during the period. Rafferty Asset Management LLC’s holdings in Lockheed Martin were worth $15,596,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of LMT. Millstone Evans Group LLC bought a new stake in Lockheed Martin in the 4th quarter valued at about $32,000. Mizuho Securities Co. Ltd. bought a new stake in Lockheed Martin in the 4th quarter valued at about $34,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin in the 4th quarter valued at about $35,000. Redwood Park Advisors LLC bought a new stake in Lockheed Martin in the 4th quarter valued at about $40,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in Lockheed Martin in the 4th quarter valued at about $42,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the sale, the insider now owns 2,000 shares in the company, valued at $884,840. The trade was a 61.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. This represents a 23.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock worth $3,155,916 in the last ninety days. 0.14% of the stock is currently owned by corporate insiders.

Lockheed Martin Stock Up 3.3%

NYSE LMT opened at $464.20 on Friday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The company’s 50 day simple moving average is $461.25 and its 200 day simple moving average is $480.58. Lockheed Martin Co. has a 12 month low of $418.88 and a 12 month high of $618.95. The company has a market capitalization of $108.76 billion, a P/E ratio of 20.85, a PEG ratio of 2.07 and a beta of 0.29.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The business had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. Equities research analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be issued a $3.30 dividend. The ex-dividend date is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.84%. Lockheed Martin’s payout ratio is currently 57.02%.

Analyst Ratings Changes

Several brokerages recently weighed in on LMT. Susquehanna cut their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. Royal Bank of Canada downgraded shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Wells Fargo & Company cut their price objective on shares of Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Citigroup cut their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $541.80.

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.