Lockheed Martin Corporation $LMT Position Lessened by Vanguard Group Inc.

Vanguard Group Inc. lowered its position in Lockheed Martin Corporation (NYSE:LMT) by 1.9% during the third quarter, HoldingsChannel.com reports. The firm owned 21,288,650 shares of the aerospace company’s stock after selling 408,877 shares during the quarter. Vanguard Group Inc. owned approximately 0.09% of Lockheed Martin worth $10,627,507,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Carnegie Investment Counsel boosted its holdings in Lockheed Martin by 11.4% during the third quarter. Carnegie Investment Counsel now owns 29,639 shares of the aerospace company’s stock valued at $14,796,000 after acquiring an additional 3,031 shares during the period. VCI Wealth Management LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter worth about $3,075,000. DAVENPORT & Co LLC boosted its stake in Lockheed Martin by 22.4% during the 3rd quarter. DAVENPORT & Co LLC now owns 25,423 shares of the aerospace company’s stock valued at $12,688,000 after purchasing an additional 4,652 shares during the period. Farther Finance Advisors LLC boosted its stake in Lockheed Martin by 29.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 10,036 shares of the aerospace company’s stock valued at $5,010,000 after purchasing an additional 2,270 shares during the period. Finally, Oppenheimer & Co. Inc. grew its holdings in Lockheed Martin by 9.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 39,410 shares of the aerospace company’s stock valued at $19,674,000 after buying an additional 3,352 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on LMT. Weiss Ratings upgraded Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Robert W. Baird upped their target price on shares of Lockheed Martin from $550.00 to $640.00 and gave the company an “outperform” rating in a research note on Friday, January 16th. Citigroup raised their price target on shares of Lockheed Martin from $592.00 to $673.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Jefferies Financial Group increased their target price on shares of Lockheed Martin from $540.00 to $630.00 and gave the company a “hold” rating in a research note on Sunday, February 1st. Finally, JPMorgan Chase & Co. boosted their price target on Lockheed Martin from $515.00 to $680.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Six investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and a consensus target price of $612.50.

Lockheed Martin Stock Performance

NYSE LMT opened at $652.41 on Monday. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $656.34. The company has a quick ratio of 0.94, a current ratio of 1.09 and a debt-to-equity ratio of 3.05. The stock has a market cap of $150.11 billion, a P/E ratio of 30.36, a PEG ratio of 1.18 and a beta of 0.23. The company’s 50-day simple moving average is $545.43 and its 200 day simple moving average is $494.74.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Thursday, January 29th. The aerospace company reported $5.80 earnings per share for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The company had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period in the previous year, the firm posted $7.67 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, research analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 2nd will be given a $3.45 dividend. This represents a $13.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Monday, March 2nd. Lockheed Martin’s dividend payout ratio is 64.22%.

About Lockheed Martin

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.