Sit Investment Associates Inc. Trims Stock Position in Lockheed Martin Co. (NYSE:LMT)

Sit Investment Associates Inc. trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 11.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 7,583 shares of the aerospace company’s stock after selling 950 shares during the period. Sit Investment Associates Inc.’s holdings in Lockheed Martin were worth $3,685,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LMT. Proficio Capital Partners LLC lifted its stake in Lockheed Martin by 53,784.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock worth $600,412,000 after purchasing an additional 1,233,275 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Lockheed Martin by 17.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after acquiring an additional 1,132,461 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Lockheed Martin by 1,239.6% during the 4th quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock valued at $266,410,000 after acquiring an additional 507,312 shares during the period. Strategic Financial Concepts LLC acquired a new position in Lockheed Martin in the 4th quarter valued at about $77,376,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in Lockheed Martin by 230.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 210,193 shares of the aerospace company’s stock worth $102,141,000 after purchasing an additional 146,581 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

LMT has been the subject of a number of research reports. UBS Group dropped their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Melius Research lowered Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Royal Bank of Canada lowered Lockheed Martin from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $550.00 to $480.00 in a report on Thursday, March 27th. Barclays lowered their target price 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. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of “Hold” and an average price target of $539.53.

Lockheed Martin Trading Down 4.9 %

Shares of Lockheed Martin stock opened at $432.72 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The company has a fifty day simple moving average of $451.38 and a 200-day simple moving average of $505.61. The stock has a market cap of $101.50 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 2.07 and a beta of 0.39. Lockheed Martin Co. has a 12-month low of $414.85 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data 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%. On average, equities analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

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

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin 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 transaction, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction dated 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 sale, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. This trade represents 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 worth $3,155,916. 0.17% of the stock is owned by insiders.

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.