Glenmede Trust Co. NA Has $18.98 Million Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Glenmede Trust Co. NA reduced its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,475 shares of the aerospace company’s stock after selling 275 shares during the period. Glenmede Trust Co. NA’s holdings in Lockheed Martin were worth $18,984,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LMT. Mattson Financial Services LLC bought a new position in shares of Lockheed Martin during the 2nd quarter worth approximately $27,000. Sachetta LLC boosted its stake in shares of Lockheed Martin by 50.0% in 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. Stephens Consulting LLC grew its holdings in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the last quarter. Burkett Financial Services LLC acquired a new stake in shares of Lockheed Martin during the 3rd quarter worth about $32,000. Finally, Ridgewood Investments LLC bought a new position in Lockheed Martin during the 2nd quarter valued at about $35,000. Institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

LMT has been the topic of several recent analyst reports. Melius Research raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft raised their target price on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Bank of America reiterated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research note on Tuesday, September 3rd. Finally, Morgan Stanley upped their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. 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 given a strong buy rating to the company. According to MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Stock Performance

LMT stock opened at $525.75 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The business’s fifty day moving average is $569.60 and its 200-day moving average is $528.50. The company has a market cap of $124.62 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 4.27 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion for 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 company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $6.77 earnings per share. Equities research analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.51%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 45.62%.

Lockheed Martin 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.