ARK Investment Management LLC Reduces Stock Position in Lockheed Martin Co. (NYSE:LMT)

ARK Investment Management LLC trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 4.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 29,050 shares of the aerospace company’s stock after selling 1,458 shares during the period. ARK Investment Management LLC’s holdings in Lockheed Martin were worth $13,167,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in LMT. Comerica Bank purchased a new position in Lockheed Martin in the second quarter valued at $280,000. Bank Julius Baer & Co. Ltd Zurich lifted its position in Lockheed Martin by 73.0% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 64 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 27 shares during the period. Coppell Advisory Solutions Corp. acquired a new stake in Lockheed Martin in the fourth quarter valued at about $31,000. CGC Financial Services LLC acquired a new stake in Lockheed Martin in the second quarter valued at about $31,000. Finally, KB Financial Partners LLC acquired a new stake in shares of Lockheed Martin during the 1st quarter valued at approximately $35,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lockheed Martin

In other news, COO John Frank A. St sold 6,648 shares of the 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO John Frank A. St sold 6,648 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gregory M. Ulmer sold 6,204 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the sale, the insider now owns 12,604 shares in the company, valued at approximately $5,434,718.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,874 shares of company stock valued at $7,249,946. Insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Up 1.3 %

NYSE LMT traded up $5.86 during trading hours on Wednesday, hitting $451.85. The company had a trading volume of 216,534 shares, compared to its average volume of 1,158,156. 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 market capitalization of $108.67 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 4.08 and a beta of 0.48. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.21 and a quick ratio of 1.03. The firm’s 50 day moving average is $433.69 and its 200 day moving average is $438.19.

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

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 1st will be given a $3.15 dividend. The ex-dividend date is Thursday, February 29th. This represents a $12.60 dividend on an annualized basis and a yield of 2.79%. Lockheed Martin’s payout ratio is currently 45.74%.

Analysts Set New Price Targets

Several brokerages have recently commented on LMT. Morgan Stanley decreased their price target 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. Royal Bank of Canada reduced their target price on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 24th. UBS Group reduced their target price 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 boosted their price target on Lockheed Martin from $438.00 to $472.00 in a report on Monday, January 22nd. Finally, Susquehanna cut their price target on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a report on Wednesday, January 24th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $491.92.

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.