Rafferty Asset Management LLC Sells 9,622 Shares of Lockheed Martin Co. (NYSE:LMT)

Rafferty Asset Management LLC lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 23.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,094 shares of the aerospace company's stock after selling 9,622 shares during the period. Rafferty Asset Management LLC's holdings in Lockheed Martin were worth $15,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of LMT. Proficio Capital Partners LLC raised its position in shares of Lockheed Martin by 53,784.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company's stock valued at $600,412,000 after buying an additional 1,233,275 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Lockheed Martin by 17.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company's stock worth $3,630,492,000 after purchasing an additional 1,132,461 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Lockheed Martin in the fourth quarter worth $526,587,000. Leigh Baldwin & CO. LLC bought a new stake in Lockheed Martin in the fourth quarter worth $451,985,000. Finally, Van ECK Associates Corp increased its position in Lockheed Martin by 1,239.6% in the fourth quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company's stock worth $266,410,000 after purchasing an additional 507,312 shares during the last quarter. Institutional investors own 74.19% of the company's stock.

Lockheed Martin Trading Up 0.5%

Shares of LMT traded up $2.40 during trading hours on Friday, reaching $467.54. 1,316,927 shares of the company traded hands, compared to its average volume of 1,287,544. The firm has a market cap of $109.54 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 2.07 and a beta of 0.29. Lockheed Martin Co. has a 12-month low of $418.88 and a 12-month high of $618.95. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The stock's fifty day moving average price is $461.21 and its 200 day moving average price is $479.58.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.34 by $0.94. The firm had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Sell-side analysts forecast 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 will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Monday, June 2nd. Lockheed Martin's dividend payout ratio is currently 57.02%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. StockNews.com cut shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 3rd. Royal Bank of Canada cut shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and reduced their price target for the stock from $550.00 to $480.00 in a research report on Thursday, March 27th. Wells Fargo & Company reduced their price target on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Susquehanna reduced their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a "positive" rating on the stock in a research report on Wednesday, January 29th. Finally, Melius lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $541.80.

Insider Activity

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares in the company, valued at $884,840. The trade was a 61.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares of the company's stock, valued at $1,008,265.58. The trade was a 23.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,133 shares of company stock valued at $3,155,916. 0.14% of the stock is currently owned by company insiders.

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.