King Luther Capital Management Corp Sells 970 Shares of Lockheed Martin Co. (NYSE:LMT)

King Luther Capital Management Corp cut its position in Lockheed Martin Co. (NYSE:LMT) by 11.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,595 shares of the aerospace company’s stock after selling 970 shares during the quarter. King Luther Capital Management Corp’s holdings in Lockheed Martin were worth $3,442,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in shares of Lockheed Martin by 10,526.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock worth $617,416,000 after acquiring an additional 1,349,409 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Lockheed Martin by 14.9% during the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock worth $1,173,641,000 after acquiring an additional 336,588 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Lockheed Martin by 1.3% during the third quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock worth $9,120,920,000 after acquiring an additional 279,162 shares during the last quarter. Corient Private Wealth LLC grew its stake in shares of Lockheed Martin by 91.8% during the fourth quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock worth $260,169,000 after acquiring an additional 274,680 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Lockheed Martin by 28.5% in the third quarter. Envestnet Asset Management Inc. now owns 707,696 shares of the aerospace company’s stock valued at $289,419,000 after buying an additional 156,842 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Down 0.2 %

Shares of NYSE LMT traded down $1.10 during midday trading on Thursday, hitting $468.61. 189,843 shares of the company’s stock were exchanged, compared to its average volume of 1,081,896. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.11. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $479.50. The company has a market cap of $112.44 billion, a PE ratio of 17.17, a P/E/G ratio of 4.41 and a beta of 0.46. The firm’s fifty day simple moving average is $456.62 and its 200-day simple moving average is $447.11.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, topping the consensus estimate of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The business had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. During the same quarter last year, the company earned $6.43 EPS. The business’s quarterly revenue was up 13.7% on a year-over-year basis. Research analysts predict that Lockheed Martin Co. will post 26.17 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be given a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a yield of 2.69%. The ex-dividend date is Monday, June 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LMT. Deutsche Bank Aktiengesellschaft upped their target price on Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Citigroup upped their price objective on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Wells Fargo & Company upped their price objective on Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Finally, Royal Bank of Canada lowered their price objective on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $485.40.

Insiders Place Their Bets

In other Lockheed Martin news, insider Gregory M. Ulmer sold 6,204 shares of Lockheed Martin stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the transaction, the insider now directly owns 12,604 shares in the company, valued at approximately $5,434,718.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Lockheed Martin news, insider Gregory M. Ulmer sold 6,204 shares of Lockheed Martin stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the transaction, the insider now directly owns 12,604 shares in the company, valued at approximately $5,434,718.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold a total of 16,874 shares of company stock valued at $7,249,946 over the last quarter. 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.