Aljian Capital Management LLC Sells 1,850 Shares of Lockheed Martin Co. (NYSE:LMT)

Aljian Capital Management LLC cut its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 19.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,745 shares of the aerospace company's stock after selling 1,850 shares during the quarter. Lockheed Martin makes up 1.1% of Aljian Capital Management LLC's portfolio, making the stock its 14th largest holding. Aljian Capital Management LLC's holdings in Lockheed Martin were worth $4,527,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Mattson Financial Services LLC bought a new position in shares of Lockheed Martin in the second quarter worth about $27,000. Sachetta LLC lifted its stake in 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 buying an additional 20 shares in the last quarter. Wiser Advisor Group LLC grew its position in Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company's stock valued at $29,000 after acquiring an additional 25 shares in the last quarter. Stephens Consulting LLC increased its position in Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company's stock valued at $31,000 after acquiring an additional 22 shares during the period. Finally, Burkett Financial Services LLC purchased a new position in shares of Lockheed Martin during the third quarter valued at $32,000. Institutional investors own 74.19% of the company's stock.

Lockheed Martin Trading Down 0.7 %

Shares of LMT stock traded down $3.87 during trading hours on Monday, reaching $530.96. The company's stock had a trading volume of 1,242,825 shares, compared to its average volume of 1,064,468. The firm's fifty day simple moving average is $575.61 and its 200 day simple moving average is $525.71. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The stock has a market capitalization of $125.86 billion, a P/E ratio of 19.22, a P/E/G ratio of 4.37 and a beta of 0.49. 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 (NYSE:LMT - Get Free Report) last issued its earnings results 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. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion for the quarter, compared to analysts' expectations of $17.38 billion. During the same period in the previous year, the firm posted $6.77 EPS. The business's revenue for the quarter was up 1.3% compared to the same quarter last year. Equities research analysts expect 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. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.49%. This is a boost from Lockheed Martin's previous quarterly dividend of $3.15. Lockheed Martin's dividend payout ratio is presently 47.79%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Bank of America restated a "buy" rating and issued a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. Barclays raised their target price on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 29th. Morgan Stanley lifted their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an "equal weight" rating in a research note on Friday, August 9th. 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, Robert W. Baird upped their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin currently has an average rating of "Moderate Buy" and a consensus target price of $611.00.

About Lockheed Martin

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.