Lockheed Martin Co. (NYSE:LMT) Shares Sold by 1ST Source Bank

1ST Source Bank lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,134 shares of the aerospace company’s stock after selling 73 shares during the period. 1ST Source Bank’s holdings in Lockheed Martin were worth $3,586,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Lockheed Martin by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock valued at $2,816,898,000 after purchasing an additional 83,997 shares during the last quarter. FMR LLC grew its stake in shares of Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares during the period. Wellington Management Group LLP increased its stake in Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after purchasing an additional 240,306 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Lockheed Martin by 1.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after purchasing an additional 31,545 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after acquiring an additional 1,556,609 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.1 %

Shares of NYSE LMT traded down $0.36 during mid-day trading on Friday, hitting $496.22. The company had a trading volume of 193,367 shares, compared to its average volume of 1,080,399. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-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. The company has a market capitalization of $117.62 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 4.13 and a beta of 0.46. The business’s 50-day simple moving average is $555.00 and its 200 day simple moving average is $531.74.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period in the previous year, the firm earned $6.77 EPS. The business’s revenue was up 1.3% on a year-over-year basis. On average, analysts predict that Lockheed Martin Co. will post 26.88 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is 47.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LMT shares. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Bank of America reaffirmed a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. JPMorgan Chase & Co. increased their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Royal Bank of Canada decreased their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, Susquehanna reduced their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average price target of $612.29.

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.