Intech Investment Management LLC Has $31.21 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Intech Investment Management LLC trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 6.6% in the third quarter, Holdings Channel.com reports. The firm owned 53,395 shares of the aerospace company’s stock after selling 3,798 shares during the period. Intech Investment Management LLC’s holdings in Lockheed Martin were worth $31,213,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LMT. CVA Family Office LLC boosted its holdings in Lockheed Martin by 1.1% in the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after acquiring an additional 17 shares during the last quarter. AllGen Financial Advisors Inc. boosted its holdings in shares of Lockheed Martin by 4.0% during the 3rd quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after buying an additional 18 shares in the last quarter. Salomon & Ludwin LLC boosted its holdings in shares of Lockheed Martin by 20.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after buying an additional 18 shares in the last quarter. Sunburst Financial Group LLC boosted its holdings in shares of Lockheed Martin by 3.3% during the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after buying an additional 18 shares in the last quarter. Finally, Quad Cities Investment Group LLC boosted its holdings in shares of Lockheed Martin by 1.2% during the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after buying an additional 19 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Up 0.3 %

Shares of NYSE LMT opened at $534.89 on Thursday. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The business has a 50-day simple moving average of $574.19 and a two-hundred day simple moving average of $526.27. 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 company has a market cap of $126.79 billion, a P/E ratio of 19.37, a P/E/G ratio of 4.36 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating 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 firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter last year, the firm posted $6.77 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. Research analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share 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 issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.47%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LMT shares. Citigroup increased their price target on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. UBS Group upped their target price on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research report on Tuesday, September 3rd. TD Cowen upped their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, 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 report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $611.00.

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.