Global Trust Asset Management LLC Sells 36 Shares of Lockheed Martin Co. (NYSE:LMT)

Global Trust Asset Management LLC trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT) by 1.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,236 shares of the aerospace company’s stock after selling 36 shares during the period. Global Trust Asset Management LLC’s holdings in Lockheed Martin were worth $1,307,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after buying an additional 2,019 shares during the last quarter. Buck Wealth Strategies LLC acquired a new position in Lockheed Martin during the second quarter worth $6,611,000. Verity & Verity LLC increased its holdings in Lockheed Martin by 3.2% during the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock worth $15,992,000 after buying an additional 1,071 shares during the last quarter. Watts Gwilliam & Co. LLC acquired a new position in Lockheed Martin during the third quarter worth $1,096,000. Finally, New Mexico Educational Retirement Board increased its holdings in Lockheed Martin by 20.5% during the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after buying an additional 2,400 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America restated a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft upped their price objective 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.71.

Lockheed Martin Trading Down 1.2 %

LMT opened at $564.21 on Friday. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The company has a 50-day simple moving average of $579.95 and a 200 day simple moving average of $513.50. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The stock has a market capitalization of $135.38 billion, a price-to-earnings ratio of 20.64, a P/E/G ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last posted 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. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the prior year, the business posted $6.77 earnings per share. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. Analysts predict that Lockheed Martin Co. will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $3.30 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.34%. Lockheed Martin’s dividend payout ratio is currently 48.30%.

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.