Royal Bank of Canada Reduces Position in Lockheed Martin Co. (NYSE:LMT)

Royal Bank of Canada cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,256,052 shares of the aerospace company's stock after selling 18,992 shares during the period. Royal Bank of Canada owned about 0.96% of Lockheed Martin worth $1,096,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in Lockheed Martin by 51.7% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company's stock valued at $4,630,000 after buying an additional 3,247 shares in the last quarter. Brady Martz Wealth Solutions LLC purchased a new position in Lockheed Martin in the fourth quarter valued at $1,266,000. Aquatic Capital Management LLC purchased a new position in Lockheed Martin in the fourth quarter valued at $33,294,000. Private Advisor Group LLC increased its holdings in Lockheed Martin by 11.0% in the fourth quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company's stock valued at $24,906,000 after buying an additional 5,075 shares in the last quarter. Finally, Confluence Wealth Services Inc. increased its stake in shares of Lockheed Martin by 174.0% during the fourth quarter. Confluence Wealth Services Inc. now owns 3,176 shares of the aerospace company's stock worth $1,579,000 after purchasing an additional 2,017 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on LMT. Wells Fargo & Company cut their target price on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Susquehanna cut their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a "positive" rating for the company in a research note on Wednesday, January 29th. Melius cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Baird R W raised shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada cut shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and cut their target price for the stock from $550.00 to $480.00 in a research note on Thursday, March 27th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $541.80.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, 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 transaction of $312,925.27. Following the sale, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. This represents a 23.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This trade represents a 61.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock worth $3,155,916 in the last ninety days. 0.14% of the stock is owned by insiders.

Lockheed Martin Trading Up 0.5%

NYSE:LMT traded up $2.40 on Friday, hitting $467.54. The stock had a trading volume of 1,316,927 shares, compared to its average volume of 1,287,544. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The stock 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. The company has a fifty day moving average price of $461.21 and a two-hundred day moving average price of $479.58. Lockheed Martin Co. has a 1-year low of $418.88 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating the consensus estimate of $6.34 by $0.94. The company had revenue of $17.96 billion for 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%. Equities research analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 annualized dividend and a yield of 2.82%. Lockheed Martin's payout ratio is 57.02%.

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.