Royal Bank of Canada Sells 18,992 Shares of Lockheed Martin Co. (NYSE:LMT)

Royal Bank of Canada reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,256,052 shares of the aerospace company’s stock after selling 18,992 shares during the period. Royal Bank of Canada owned approximately 0.96% of Lockheed Martin worth $1,096,305,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LMT. Fifth Third Wealth Advisors LLC grew its stake in shares of Lockheed Martin by 11.8% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,906 shares of the aerospace company’s stock valued at $1,898,000 after buying an additional 411 shares during the last quarter. BluePath Capital Management LLC increased its holdings in shares of Lockheed Martin by 19.7% during the fourth quarter. BluePath Capital Management LLC now owns 4,267 shares of the aerospace company’s stock valued at $2,062,000 after acquiring an additional 702 shares in the last quarter. USA Financial Formulas raised its stake in Lockheed Martin by 18.8% in the 4th quarter. USA Financial Formulas now owns 473 shares of the aerospace company’s stock worth $230,000 after acquiring an additional 75 shares during the last quarter. RMR Wealth Builders lifted its stake in Lockheed Martin by 10.5% during the 4th quarter. RMR Wealth Builders now owns 3,124 shares of the aerospace company’s stock valued at $1,518,000 after acquiring an additional 296 shares during the period. Finally, Smith Thornton Advisors LLC boosted its stake in shares of Lockheed Martin by 3.8% in the fourth quarter. Smith Thornton Advisors LLC now owns 814 shares of the aerospace company’s stock worth $396,000 after buying an additional 30 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the sale, the insider now 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 available at the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the company’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 sale, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,133 shares of company stock worth $3,155,916. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Jefferies Financial Group cut their price objective on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Monday, April 28th. Baird R W raised shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Wells Fargo & Company cut their target price on shares of Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley raised shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective for the company in a research report on Wednesday, April 16th. Finally, UBS Group lifted their target price on Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $541.80.

Lockheed Martin Stock Up 3.3%

Shares of NYSE LMT opened at $464.20 on Friday. The firm has a 50-day moving average price of $461.25 and a 200 day moving average price of $480.58. 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 stock has a market capitalization of $108.76 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. Lockheed Martin Co. has a 52 week low of $418.88 and a 52 week high of $618.95.

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

Lockheed Martin Dividend Announcement

The company 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 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 57.02%.

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.