Legal & General Group Plc Sells 366,915 Shares of Lockheed Martin Co. (NYSE:LMT)

Legal & General Group Plc lowered its holdings in Lockheed Martin Co. (NYSE:LMT) by 28.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 945,007 shares of the aerospace company’s stock after selling 366,915 shares during the period. Legal & General Group Plc’s holdings in Lockheed Martin were worth $459,217,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Arete Wealth Advisors LLC bought a new stake in Lockheed Martin in the 3rd quarter valued at about $1,840,000. Morse Asset Management Inc raised its position in shares of Lockheed Martin by 1.0% in the third quarter. Morse Asset Management Inc now owns 3,058 shares of the aerospace company’s stock valued at $1,788,000 after purchasing an additional 31 shares during the period. iA Global Asset Management Inc. lifted its stake in shares of Lockheed Martin by 144.1% during the 3rd quarter. iA Global Asset Management Inc. now owns 4,659 shares of the aerospace company’s stock valued at $2,723,000 after buying an additional 2,750 shares in the last quarter. XTX Topco Ltd bought a new position in Lockheed Martin in the 3rd quarter worth approximately $447,000. Finally, Legacy Investment Solutions LLC purchased a new position in Lockheed Martin in the 3rd quarter valued at approximately $42,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.4 %

Shares of LMT stock opened at $430.41 on Tuesday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The stock has a fifty day simple moving average of $449.92 and a two-hundred day simple moving average of $504.66. The firm has a market capitalization of $100.96 billion, a PE ratio of 19.34, a PEG ratio of 2.07 and a beta of 0.39. Lockheed Martin Co. has a 52-week low of $418.88 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping 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, analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

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

Analysts Set New Price Targets

LMT has been the subject of a number of analyst reports. Citigroup cut their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Melius lowered Lockheed Martin from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Barclays lowered their price target 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. StockNews.com cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and a consensus target price of $539.53.

Insiders Place Their Bets

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction dated 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 completion of the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 value of $312,925.27. Following the transaction, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock valued at $3,155,916 in the last three months. Corporate insiders own 0.17% of the company’s stock.

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.