River Road Asset Management LLC Trims Holdings in Lockheed Martin Co. (NYSE:LMT)

River Road Asset Management LLC lessened its holdings in Lockheed Martin Co. (NYSE:LMT) by 16.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,196 shares of the aerospace company’s stock after selling 638 shares during the quarter. River Road Asset Management LLC’s holdings in Lockheed Martin were worth $1,553,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its holdings 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 acquiring an additional 1,132,461 shares in the last quarter. Geode Capital Management LLC grew its position in Lockheed Martin by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock valued at $2,816,898,000 after purchasing an additional 83,997 shares during the last quarter. FMR LLC grew its position in Lockheed Martin by 6.6% during the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after purchasing an additional 209,591 shares during the last quarter. Wellington Management Group LLP increased its stake in 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 valued at $1,797,437,000 after purchasing an additional 240,306 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Lockheed Martin by 0.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company’s stock worth $847,361,000 after buying an additional 15,085 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 2.0 %

Shares of Lockheed Martin stock opened at $469.40 on Wednesday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a market capitalization of $110.49 billion, a PE ratio of 21.09, 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’s fifty day simple moving average is $462.46 and its 200-day simple moving average is $520.20.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is 59.30%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on LMT shares. Truist Financial started coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. UBS Group decreased their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. Barclays lowered their price target 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. Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a report on Monday. Finally, Morgan Stanley dropped their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $554.20.

Insiders Place Their Bets

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,133 shares of company stock worth $3,155,916. Company insiders own 0.17% of the company’s stock.

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.