Conning Inc. Reduces Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Conning Inc. trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 7.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,883 shares of the aerospace company’s stock after selling 5,582 shares during the quarter. Conning Inc.’s holdings in Lockheed Martin were worth $32,060,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Carnegie Capital Asset Management LLC grew its holdings in Lockheed Martin by 1.1% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 29,211 shares of the aerospace company’s stock worth $13,240,000 after acquiring an additional 307 shares during the period. S. R. Schill & Associates acquired a new position in shares of Lockheed Martin in the 4th quarter valued at $320,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Lockheed Martin by 66.9% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 138,135 shares of the aerospace company’s stock worth $62,932,000 after acquiring an additional 55,365 shares in the last quarter. Granite Bay Wealth Management LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $2,150,000. Finally, Simplicity Wealth LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at $594,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lockheed Martin

In related news, COO John Frank A. St sold 6,648 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $425.35, for a total value of $2,827,726.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total value of $1,747,116.58. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO John Frank A. St sold 6,648 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,874 shares of company stock worth $7,249,946. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Susquehanna cut their target price on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research note on Wednesday, January 24th. UBS Group lowered their price target on Lockheed Martin from $488.00 to $475.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Lockheed Martin from $438.00 to $472.00 in a research note on Monday, January 22nd. Citigroup cut their price objective on shares of Lockheed Martin from $540.00 to $508.00 and set a “buy” rating for the company in a report on Wednesday, January 24th. Finally, Royal Bank of Canada cut their price target on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a report on Wednesday, January 24th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $490.00.

Lockheed Martin Stock Down 0.4 %

NYSE LMT traded down $1.92 on Friday, hitting $450.40. 1,251,154 shares of the stock were exchanged, compared to its average volume of 1,105,467. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $508.10. The company has a 50-day moving average price of $436.96 and a 200-day moving average price of $441.17. The company has a market cap of $108.32 billion, a PE ratio of 16.35, a PEG ratio of 4.11 and a beta of 0.48. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 2.53.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 23rd. The aerospace company reported $7.90 earnings per share for the quarter, topping the consensus estimate of $7.26 by $0.64. Lockheed Martin had a return on equity of 79.91% and a net margin of 10.24%. The business had revenue of $18.87 billion for the quarter, compared to analyst estimates of $17.96 billion. During the same quarter last year, the company earned $7.79 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. Sell-side analysts anticipate that Lockheed Martin Co. will post 26.13 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were paid a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Thursday, February 29th. Lockheed Martin’s dividend payout ratio is currently 45.74%.

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.