Lockheed Martin Co. (NYSE:LMT) Stock Position Lowered by Martingale Asset Management L P

Martingale Asset Management L P lessened its position in Lockheed Martin Co. (NYSE:LMT) by 18.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,935 shares of the aerospace company’s stock after selling 12,683 shares during the period. Lockheed Martin makes up 0.8% of Martingale Asset Management L P’s holdings, making the stock its 27th largest position. Martingale Asset Management L P’s holdings in Lockheed Martin were worth $33,866,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mattson Financial Services LLC acquired a new stake in shares of Lockheed Martin during the second quarter worth $27,000. Sachetta LLC grew its holdings in shares of Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after buying an additional 20 shares in the last quarter. Stephens Consulting LLC grew its holdings in shares of Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after buying an additional 22 shares in the last quarter. Burkett Financial Services LLC purchased a new position in shares of Lockheed Martin during the third quarter valued at $32,000. Finally, Ridgewood Investments LLC purchased a new position in shares of Lockheed Martin during the second quarter valued at $35,000. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group lifted their price target on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Barclays lifted their price target on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Susquehanna lowered their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday, October 23rd. Bank of America reiterated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Finally, TD Cowen upped their price target on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $525.75 on Friday. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The firm has a market capitalization of $124.62 billion, a PE ratio of 19.04, a PEG ratio of 4.29 and a beta of 0.49. The business’s 50 day moving average is $569.60 and its 200-day moving average is $528.50. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $6.77 EPS. Sell-side analysts predict that Lockheed Martin Co. will post 26.94 earnings per share for the current 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 paid a $3.30 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.51%. Lockheed Martin’s payout ratio is currently 45.62%.

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.