Lockheed Martin Investment Management Co. Sells 11,500 Shares of Rio Tinto PLC $RIO

Lockheed Martin Investment Management Co. decreased its position in Rio Tinto PLC (NYSE:RIO) by 26.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 31,650 shares of the mining company’s stock after selling 11,500 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Rio Tinto were worth $2,533,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RIO. PFS Partners LLC bought a new stake in shares of Rio Tinto in the fourth quarter worth about $28,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Rio Tinto in the fourth quarter worth about $28,000. Trust Co. of Toledo NA OH bought a new stake in shares of Rio Tinto in the fourth quarter worth about $34,000. Root Financial Partners LLC bought a new stake in shares of Rio Tinto in the third quarter worth about $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Rio Tinto in the fourth quarter worth about $37,000. 19.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut Rio Tinto from an “overweight” rating to a “neutral” rating in a research note on Monday, March 9th. HSBC cut Rio Tinto from a “buy” rating to a “hold” rating in a research note on Monday, January 26th. Morgan Stanley cut Rio Tinto from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 28th. Citigroup reissued a “neutral” rating on shares of Rio Tinto in a research note on Monday, April 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Rio Tinto in a report on Friday. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $101.75.

Rio Tinto Price Performance

Shares of RIO opened at $103.63 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44. Rio Tinto PLC has a one year low of $55.64 and a one year high of $112.58. The company has a 50-day simple moving average of $95.95 and a two-hundred day simple moving average of $87.22.

Rio Tinto Dividend Announcement

The business also recently disclosed a dividend, which was paid on Thursday, April 16th. Shareholders of record on Friday, March 6th were issued a $2.54 dividend. The ex-dividend date was Friday, March 6th. This represents a yield of 564.0%.

About Rio Tinto

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.