ING Groep NV Trims Stock Position in Lockheed Martin Co. (NYSE:LMT)

ING Groep NV lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,372 shares of the aerospace company’s stock after selling 363 shares during the quarter. ING Groep NV’s holdings in Lockheed Martin were worth $16,585,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. International Assets Investment Management LLC boosted its stake 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 valued at $911,433,000 after acquiring an additional 1,556,609 shares during the last quarter. Wulff Hansen & CO. boosted its holdings in Lockheed Martin by 56,626.7% during the second 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 in the last quarter. Los Angeles Capital Management LLC increased its stake in Lockheed Martin by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after purchasing an additional 249,591 shares in the last quarter. Capital Research Global Investors grew 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 purchasing an additional 218,506 shares in the last quarter. Finally, National Bank of Canada FI raised its position in Lockheed Martin by 219.3% during the first quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock valued at $149,138,000 after buying an additional 218,466 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $539.04 on Friday. The company has a fifty day simple moving average of $577.75 and a 200-day simple moving average of $523.80. 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 has a market capitalization of $127.77 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 4.56 and a beta of 0.49. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95.

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

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is currently 45.62%.

Analyst Ratings Changes

LMT has been the topic of several research analyst reports. Morgan Stanley raised their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Susquehanna decreased their price target on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada reduced their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Citigroup lifted their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Barclays upped their price objective on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin 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.