Lockheed Martin Co. (NYSE:LMT) Holdings Cut by Intech Investment Management LLC

Intech Investment Management LLC decreased its stake in Lockheed Martin Co. (NYSE:LMT) by 6.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,395 shares of the aerospace company’s stock after selling 3,798 shares during the quarter. 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 also recently added to or reduced their stakes in the stock. Burkett Financial Services LLC bought a new position in shares of Lockheed Martin during the 3rd quarter valued at $32,000. Mattson Financial Services LLC bought a new position in shares of Lockheed Martin during the 2nd quarter valued at $27,000. Sachetta LLC raised its holdings in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares in the last quarter. Wiser Advisor Group LLC raised its holdings in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares in the last quarter. Finally, Stephens Consulting LLC raised its holdings in shares of Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 0.3 %

Shares of LMT stock opened at $534.89 on Thursday. The stock has a market cap of $126.79 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 4.36 and a beta of 0.49. The stock has a fifty day moving average price of $574.19 and a 200 day moving average price of $526.27. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $6.77 earnings per share. Analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm 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 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 payout ratio is currently 45.62%.

Analysts Set New Price Targets

A number of research analysts have weighed in on LMT shares. Barclays boosted their target price on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. UBS Group raised their target price on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Susquehanna reduced their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. Bank of America restated a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. Finally, StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.