Lockheed Martin Co. (NYSE:LMT) Shares Sold by Hi Line Capital Management LLC

Hi Line Capital Management LLC cut its stake in Lockheed Martin Co. (NYSE:LMT) by 18.0% in the third quarter, Holdings Channel reports. The firm owned 12,969 shares of the aerospace company’s stock after selling 2,853 shares during the period. Lockheed Martin comprises 3.7% of Hi Line Capital Management LLC’s holdings, making the stock its 10th largest position. Hi Line Capital Management LLC’s holdings in Lockheed Martin were worth $7,581,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. International Assets Investment Management LLC raised its position in Lockheed Martin by 60,592.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after buying an additional 1,556,609 shares during the last quarter. Wulff Hansen & CO. raised its position in Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after buying an additional 1,019,281 shares during the last quarter. Capital Research Global Investors raised its position in Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after buying an additional 218,506 shares during the last quarter. National Bank of Canada FI raised its position in Lockheed Martin by 219.3% during the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock worth $149,138,000 after buying an additional 218,466 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Lockheed Martin by 14.9% during the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after purchasing an additional 180,074 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Trading Up 0.1 %

Shares of LMT opened at $546.45 on Friday. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm’s fifty day moving average is $579.44 and its two-hundred day moving average is $517.34. The stock has a market cap of $129.53 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 4.47 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the company posted $6.77 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. Research analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is 45.62%.

Analyst Ratings Changes

LMT has been the subject of several recent research reports. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. Morgan Stanley lifted their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Robert W. Baird lifted their target price on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a report on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $611.00.

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.