Nuveen Asset Management LLC Sells 18,427 Shares of Lockheed Martin Co. (NYSE:LMT)

Nuveen Asset Management LLC lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 3.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 511,312 shares of the aerospace company’s stock after selling 18,427 shares during the quarter. Nuveen Asset Management LLC’s holdings in Lockheed Martin were worth $248,467,000 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. Millstone Evans Group LLC bought a new position in shares of Lockheed Martin during the fourth quarter valued at about $32,000. Mizuho Securities Co. Ltd. purchased a new position in Lockheed Martin during the 4th quarter valued at about $34,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin during the 4th quarter valued at approximately $35,000. Redwood Park Advisors LLC purchased a new stake in Lockheed Martin in the 4th quarter worth approximately $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Lockheed Martin in the 4th quarter worth approximately $42,000. Institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on LMT. Baird R W raised shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Bank of America lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Morgan Stanley raised Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective on the stock in a research report on Wednesday, April 16th. Finally, StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 3rd. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $541.80.

Lockheed Martin Trading Up 3.3%

NYSE:LMT opened at $464.20 on Friday. The firm has a 50-day simple moving average of $461.25 and a 200-day simple moving average of $480.58. Lockheed Martin Co. has a one year low of $418.88 and a one year high of $618.95. The firm has a market cap of $108.76 billion, a P/E ratio of 20.85, a P/E/G ratio of 2.07 and a beta of 0.29. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13.

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

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.84%. Lockheed Martin’s dividend payout ratio (DPR) is currently 57.02%.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin 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 completion of the sale, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction 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 completion of the sale, 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 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. 0.14% of the stock is owned by insiders.

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.