Prudential Financial Inc. Has $139.17 Million Stake in Lockheed Martin Co. (NYSE:LMT)

Prudential Financial Inc. trimmed its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 25.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 286,387 shares of the aerospace company’s stock after selling 98,832 shares during the quarter. Prudential Financial Inc. owned 0.12% of Lockheed Martin worth $139,167,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. Nwam LLC bought a new stake in Lockheed Martin during the 3rd quarter worth about $812,000. Cerity Partners LLC lifted its stake in Lockheed Martin by 6.2% in the third quarter. Cerity Partners LLC now owns 138,011 shares of the aerospace company’s stock valued at $80,676,000 after buying an additional 8,103 shares in the last quarter. Lane & Associates LLC acquired a new position in Lockheed Martin in the 3rd quarter worth $205,000. Sompo Asset Management Co. Ltd. grew its holdings in shares of Lockheed Martin by 9.1% during the third quarter. Sompo Asset Management Co. Ltd. now owns 2,870 shares of the aerospace company’s stock worth $1,678,000 after buying an additional 240 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Lockheed Martin by 42.9% during the 3rd quarter. Larson Financial Group LLC now owns 630 shares of the aerospace company’s stock worth $368,000 after acquiring an additional 189 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Down 5.7 %

Shares of Lockheed Martin stock opened at $440.26 on Monday. The stock has a market capitalization of $103.63 billion, a price-to-earnings ratio of 19.78, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95. 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 company’s 50 day moving average price is $460.94 and its 200-day moving average price is $514.45.

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

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 annualized dividend and a dividend yield of 3.00%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Barclays dropped their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Susquehanna lowered their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. Royal Bank of Canada dropped their price objective on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Citigroup cut their target price on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Finally, Truist Financial started coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $554.20.

Insider Transactions at Lockheed Martin

In other 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 sale, the insider now owns 2,000 shares in the company, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock worth $3,155,916 over the last three months. 0.17% of the stock is currently owned by company 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.