Lockheed Martin Co. (NYSE:LMT) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 187,087 shares of the aerospace company’s stock after selling 2,386 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.08% of Lockheed Martin worth $109,364,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can grew its stake in shares of Lockheed Martin by 2.1% in the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after purchasing an additional 13,253 shares in the last quarter. Old West Investment Management LLC lifted its holdings in Lockheed Martin by 6.6% in the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after purchasing an additional 1,643 shares during the period. Empower Advisory Group LLC grew its position in Lockheed Martin by 9.1% in the 3rd quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock valued at $12,870,000 after buying an additional 1,843 shares in the last quarter. Buck Wealth Strategies LLC acquired a new position in Lockheed Martin during the 2nd quarter valued at about $6,611,000. Finally, Financial Enhancement Group LLC raised its position in shares of Lockheed Martin by 2,268.3% during the 3rd quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock worth $6,105,000 after buying an additional 10,003 shares in the last quarter. 74.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on LMT. Morgan Stanley raised their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. UBS Group boosted their price objective on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a report on Tuesday, September 3rd. JPMorgan Chase & Co. lifted their target price on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Bank of America reissued a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Performance

Shares of LMT opened at $529.41 on Monday. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The company has a 50-day moving average of $568.75 and a two-hundred day moving average of $529.80. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The stock has a market cap of $125.49 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 4.32 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate 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 net margin of 9.36% and a return on equity of 101.44%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $6.77 EPS. On average, equities research analysts expect that Lockheed Martin Co. will post 26.94 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.49%. Lockheed Martin’s dividend payout ratio (DPR) is presently 45.62%.

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.