BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 13.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,030 shares of the aerospace company's stock after selling 5,427 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Lockheed Martin were worth $21,062,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Widmann Financial Services Inc. boosted its holdings in shares of Lockheed Martin by 2.1% in the third quarter. Widmann Financial Services Inc. now owns 968 shares of the aerospace company's stock valued at $566,000 after buying an additional 20 shares during the period. Encompass More Asset Management acquired a new position in shares of Lockheed Martin in the third quarter valued at approximately $205,000. Edgestream Partners L.P. boosted its holdings in shares of Lockheed Martin by 15.7% in the third quarter. Edgestream Partners L.P. now owns 3,667 shares of the aerospace company's stock valued at $2,144,000 after buying an additional 497 shares during the period. L.M. Kohn & Company boosted its holdings in shares of Lockheed Martin by 2.8% in the third quarter. L.M. Kohn & Company now owns 4,509 shares of the aerospace company's stock valued at $2,636,000 after buying an additional 124 shares during the period. Finally, Firsthand Capital Management Inc. acquired a new position in shares of Lockheed Martin in the third quarter valued at approximately $1,169,000. Institutional investors and hedge funds own 74.19% of the company's stock.
LMT has been the subject of several research analyst reports. Barclays upped their price target on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an "equal weight" rating in a report on Tuesday, October 29th. TD Cowen increased their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Citigroup increased their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Morgan Stanley increased their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an "equal weight" rating in a report on Friday, August 9th. Finally, Robert W. Baird increased their target price on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Lockheed Martin currently has an average rating of "Moderate Buy" and a consensus target price of $611.00.
Read Our Latest Report on Lockheed Martin
NYSE LMT opened at $529.41 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The firm's fifty day moving average price is $568.75 and its two-hundred day moving average price is $529.34. The firm has a market capitalization of $125.49 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 4.32 and a beta of 0.49.
Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (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 firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter last year, the business earned $6.77 EPS. The company's revenue was up 1.3% compared to the same quarter last year. As a group, research analysts anticipate that Lockheed Martin Co. will post 26.94 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is a positive change from Lockheed Martin's previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.49%. Lockheed Martin's dividend payout ratio (DPR) is presently 45.62%.
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.
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