Geode Capital Management LLC Has $2.37 Billion Stock Position in Lockheed Martin Co. (NYSE:LMT)

Geode Capital Management LLC lifted its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,887,242 shares of the aerospace company’s stock after acquiring an additional 59,597 shares during the period. Geode Capital Management LLC owned approximately 2.08% of Lockheed Martin worth $2,374,557,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. CFS Investment Advisory Services LLC raised its position in shares of Lockheed Martin by 2.0% in the fourth quarter. CFS Investment Advisory Services LLC now owns 1,091 shares of the aerospace company’s stock valued at $530,000 after buying an additional 21 shares in the last quarter. Wynn Capital LLC raised its holdings in Lockheed Martin by 1.0% in the 4th quarter. Wynn Capital LLC now owns 2,185 shares of the aerospace company’s stock valued at $1,062,000 after acquiring an additional 22 shares in the last quarter. PBMares Wealth Management LLC lifted its position in shares of Lockheed Martin by 0.6% during the 4th quarter. PBMares Wealth Management LLC now owns 3,745 shares of the aerospace company’s stock valued at $1,820,000 after acquiring an additional 22 shares during the period. Nvwm LLC grew its holdings in shares of Lockheed Martin by 2.5% during the 4th quarter. Nvwm LLC now owns 908 shares of the aerospace company’s stock worth $441,000 after purchasing an additional 22 shares in the last quarter. Finally, Schear Investment Advisers LLC increased its position in shares of Lockheed Martin by 2.0% in the fourth quarter. Schear Investment Advisers LLC now owns 1,147 shares of the aerospace company’s stock worth $557,000 after purchasing an additional 22 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Buying and Selling at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction on Wednesday, February 26th. The stock was 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 represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,133 shares of company stock worth $3,155,916. Insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $446.81 on Tuesday. The business has a 50 day moving average of $455.61 and a 200-day moving average of $509.05. The company has a market capitalization of $105.17 billion, a P/E ratio of 20.07, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping 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%. On average, equities research analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s payout ratio is presently 59.30%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Morgan Stanley reduced their price objective on shares of 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. Truist Financial began coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective on the stock. Citigroup lowered their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Royal Bank of Canada lowered Lockheed Martin from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. Finally, StockNews.com downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $539.53.

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.