Wells Fargo & Company MN Reduces Holdings in Lockheed Martin Co. (NYSE:LMT)

Wells Fargo & Company MN decreased its holdings in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,591,846 shares of the aerospace company's stock after selling 38,474 shares during the period. Wells Fargo & Company MN owned 1.07% of Lockheed Martin worth $1,174,728,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Lockheed Martin by 1.3% in the third quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company's stock worth $9,120,920,000 after buying an additional 279,162 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Lockheed Martin by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,686,937 shares of the aerospace company's stock worth $2,302,388,000 after purchasing an additional 97,916 shares during the period. Wellington Management Group LLP grew its stake in Lockheed Martin by 4.0% in the third quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company's stock worth $1,291,816,000 after purchasing an additional 121,358 shares during the period. Northern Trust Corp raised its holdings in Lockheed Martin by 4.0% in the third quarter. Northern Trust Corp now owns 2,388,377 shares of the aerospace company's stock worth $976,751,000 after purchasing an additional 91,109 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in 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 valued at $617,416,000 after buying an additional 1,349,409 shares during the period. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Performance

Shares of LMT traded up $1.23 during mid-day trading on Tuesday, hitting $468.31. 556,219 shares of the company traded hands, compared to its average volume of 1,096,813. The stock has a market cap of $112.37 billion, a price-to-earnings ratio of 17.14, a P/E/G ratio of 4.26 and a beta of 0.46. The stock has a 50-day moving average price of $455.92 and a two-hundred day moving average price of $446.96. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $479.50. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.11 and a current ratio of 1.30.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, beating analysts' consensus estimates of $5.80 by $0.53. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The business had revenue of $17.20 billion during the quarter, compared to analyst estimates of $16.04 billion. During the same period in the previous year, the business earned $6.43 EPS. The company's quarterly revenue was up 13.7% compared to the same quarter last year. Equities analysts anticipate that Lockheed Martin Co. will post 26.17 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be issued a $3.15 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.69%. Lockheed Martin's dividend payout ratio is currently 46.10%.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of recent research reports. StockNews.com raised shares of 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 target on Lockheed Martin from $460.00 to $480.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 25th. Royal Bank of Canada lowered their price objective on Lockheed Martin from $475.00 to $470.00 and set a "sector perform" rating for the company in a research note on Wednesday, January 24th. Morgan Stanley cut their target price on Lockheed Martin from $513.00 to $503.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 24th. Finally, Citigroup lifted their price target on Lockheed Martin from $508.00 to $525.00 and gave the stock a "buy" rating in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin currently has an average rating of "Hold" and a consensus target price of $485.40.

Insider Activity at Lockheed Martin

In other news, SVP Maryanne Lavan sold 4,022 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Maryanne Lavan sold 4,022 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total transaction of $1,747,116.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO John Frank A. St sold 6,648 shares of the business's stock in a transaction that occurred on Friday, March 1st. The stock was 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. Over the last three months, insiders have sold 16,874 shares of company stock worth $7,249,946. Corporate insiders own 0.14% of the company's stock.

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.