Sumitomo Mitsui Trust Group Inc. Sells 10,798 Shares of Lockheed Martin Co. (NYSE:LMT)

Sumitomo Mitsui Trust Group Inc. lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 553,535 shares of the aerospace company’s stock after selling 10,798 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Lockheed Martin worth $268,985,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC grew its position in Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after purchasing an additional 1,556,609 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Lockheed Martin by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock valued at $263,561,000 after acquiring an additional 249,591 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Lockheed Martin by 8.5% during the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after acquiring an additional 240,306 shares during the last quarter. FMR LLC lifted its holdings in Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after acquiring an additional 209,591 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new position in Lockheed Martin in the fourth quarter worth $77,376,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.4 %

Shares of Lockheed Martin stock opened at $448.29 on Friday. The company’s 50-day moving average price is $488.10 and its 200-day moving average price is $536.42. The company has a market cap of $105.52 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 2.96 and a beta of 0.48. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating 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, equities analysts expect that Lockheed Martin Co. will post 27.29 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.94%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Analysts Set New Price Targets

LMT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and lowered their target price for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. Susquehanna dropped their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. Citigroup decreased their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Robert W. Baird upped their price objective on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company decreased their target price on Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating for the company in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $555.60.

About Lockheed Martin

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.