Lockheed Martin Co. (NYSE:LMT) Short Interest Update

Lockheed Martin Co. (NYSE:LMT) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 2,620,000 shares, a decline of 22.9% from the February 28th total of 3,400,000 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average trading volume of 1,610,000 shares, the days-to-cover ratio is presently 1.6 days.

Insider Activity

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 of the company’s stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the transaction, 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. In the last quarter, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Proficio Capital Partners LLC boosted its stake in Lockheed Martin by 53,784.3% in 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 acquiring an additional 1,233,275 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Lockheed Martin by 17.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after purchasing an additional 1,132,461 shares during the period. Castlekeep Investment Advisors LLC purchased a new position in Lockheed Martin during the 4th quarter worth approximately $526,587,000. Leigh Baldwin & CO. LLC acquired a new position in Lockheed Martin during the fourth quarter worth approximately $451,985,000. Finally, Van ECK Associates Corp lifted its stake 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 valued at $266,410,000 after buying an additional 507,312 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on LMT shares. Barclays lowered their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Citigroup lowered their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Susquehanna cut their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. Bank of America lowered Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $539.53.

Lockheed Martin Stock Up 0.4 %

Shares of LMT traded up $1.68 during midday trading on Tuesday, reaching $448.39. The stock had a trading volume of 1,041,849 shares, compared to its average volume of 1,209,792. The company has a market cap of $105.55 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 2.07 and a beta of 0.43. The company’s fifty day simple moving average is $454.45 and its two-hundred day simple moving average is $508.19. Lockheed Martin has a 1-year low of $419.70 and a 1-year high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Equities research analysts expect that Lockheed Martin will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were paid a $3.30 dividend. The ex-dividend date was Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.94%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

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.