Prudential Financial Inc. Sells 98,832 Shares of Lockheed Martin Co. (NYSE:LMT)

Prudential Financial Inc. lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 25.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 286,387 shares of the aerospace company’s stock after selling 98,832 shares during the quarter. Prudential Financial Inc.’s holdings in Lockheed Martin were worth $139,167,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Congress Wealth Management LLC DE lifted its position in Lockheed Martin by 35.1% during the fourth quarter. Congress Wealth Management LLC DE now owns 9,989 shares of the aerospace company’s stock valued at $4,854,000 after purchasing an additional 2,597 shares during the period. Horrell Capital Management Inc. increased its holdings in Lockheed Martin by 0.3% in the 4th quarter. Horrell Capital Management Inc. now owns 14,917 shares of the aerospace company’s stock worth $7,249,000 after acquiring an additional 43 shares in the last quarter. Crowley Wealth Management Inc. acquired a new position in shares of Lockheed Martin during the 4th quarter worth about $505,000. Stevens Capital Management LP acquired a new position in shares of Lockheed Martin during the fourth quarter valued at approximately $1,968,000. Finally, Richwood Investment Advisors LLC lifted its holdings in Lockheed Martin by 2.9% in the 4th quarter. Richwood Investment Advisors LLC now owns 3,454 shares of the aerospace company’s stock valued at $1,678,000 after purchasing an additional 98 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Buying and Selling at Lockheed Martin

In other news, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was 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 of the company’s stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This trade represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LMT. Citigroup reduced their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. JPMorgan Chase & Co. lowered their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. UBS Group dropped their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Morgan Stanley dropped their price target on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Finally, Susquehanna decreased their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $554.20.

Lockheed Martin Stock Down 5.7 %

LMT stock opened at $440.26 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 firm has a market cap of $103.63 billion, a PE ratio of 19.78, a PEG ratio of 2.07 and a beta of 0.43. The company has a fifty day simple moving average of $460.94 and a 200 day simple moving average of $514.45. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95.

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

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 3.00%. Lockheed Martin’s dividend payout ratio is 59.30%.

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.