Manning & Napier Advisors LLC Trims Stock Position in Lockheed Martin Co. (NYSE:LMT)

Manning & Napier Advisors LLC lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,297 shares of the aerospace company’s stock after selling 4,931 shares during the period. Manning & Napier Advisors LLC’s holdings in Lockheed Martin were worth $28,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of LMT. Algert Global LLC acquired a new position in shares of Lockheed Martin in the 2nd quarter valued at $277,000. Northwestern Mutual Wealth Management Co. lifted its position in Lockheed Martin by 0.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 49,353 shares of the aerospace company’s stock worth $23,063,000 after acquiring an additional 338 shares during the period. Regal Investment Advisors LLC lifted its position in Lockheed Martin by 103.9% during the 2nd quarter. Regal Investment Advisors LLC now owns 2,235 shares of the aerospace company’s stock worth $1,044,000 after acquiring an additional 1,139 shares during the period. Gateway Wealth Partners LLC grew its position in Lockheed Martin by 161.9% in the 2nd quarter. Gateway Wealth Partners LLC now owns 1,215 shares of the aerospace company’s stock valued at $567,000 after buying an additional 751 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its stake in shares of Lockheed Martin by 10.2% during the second quarter. EP Wealth Advisors LLC now owns 12,886 shares of the aerospace company’s stock worth $6,019,000 after acquiring an additional 1,191 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Citigroup decreased their target price on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. UBS Group dropped their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday. Barclays dropped their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Finally, TD Cowen lifted their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $571.40.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock traded down $2.44 during trading hours on Wednesday, reaching $455.01. The company’s stock had a trading volume of 316,683 shares, compared to its average volume of 1,301,000. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The company’s 50 day simple moving average is $497.18 and its 200 day simple moving average is $537.55. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The stock has a market cap of $107.86 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. As a group, analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.90%. Lockheed Martin’s dividend payout ratio (DPR) is presently 47.79%.

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.