Short Interest in Lockheed Martin Co. (NYSE:LMT) Drops By 22.9%

Lockheed Martin Co. (NYSE:LMT) saw a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 2,620,000 shares, a decline of 22.9% from the February 28th total of 3,400,000 shares. Based on an average daily volume of 1,610,000 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.1% of the shares of the company are short sold.

Insider Buying and Selling at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction on 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 completion of the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Harry Edward Paul III sold 707 shares of the business’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 transaction, the vice president now directly owns 2,278 shares in the company, valued at $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 three months, insiders have sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Lockheed Martin by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after buying an additional 1,132,461 shares during the period. Geode Capital Management LLC raised its holdings in Lockheed Martin by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock valued at $2,374,557,000 after acquiring an additional 59,597 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Lockheed Martin by 8.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares during the period. Northern Trust Corp boosted its holdings in shares of Lockheed Martin by 6.3% during the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock worth $1,098,667,000 after purchasing an additional 134,662 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Lockheed Martin by 17.5% during the fourth quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company’s stock worth $1,035,989,000 after purchasing an additional 318,007 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

NYSE:LMT traded up $1.68 during mid-day trading on Tuesday, hitting $448.39. 1,041,849 shares of the company’s stock traded hands, compared to its average volume of 1,209,792. Lockheed Martin has a 1 year low of $419.70 and a 1 year high of $618.95. The company has a market cap of $105.55 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. 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 firm’s 50 day simple moving average is $454.45 and its 200 day simple moving average is $508.19.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Sell-side analysts expect that Lockheed Martin will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date was Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Analysts Set New Price Targets

LMT has been the subject of several analyst reports. Melius Research cut shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Morgan Stanley cut their target price on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Melius downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Bank of America cut Lockheed Martin from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. Finally, UBS Group decreased their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $539.53.

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.