Lockheed Martin Co. (NYSE:LMT) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems cut its holdings in Lockheed Martin Co. (NYSE:LMT - Free Report) by 8.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,779 shares of the aerospace company's stock after selling 1,313 shares during the quarter. Kentucky Retirement Systems' holdings in Lockheed Martin were worth $8,639,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Ameriprise Financial Inc. boosted its stake in Lockheed Martin by 1.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company's stock worth $902,714,000 after purchasing an additional 31,545 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Lockheed Martin by 60,592.0% during the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company's stock valued at $911,433,000 after buying an additional 1,556,609 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Lockheed Martin by 14.9% during the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company's stock valued at $646,828,000 after buying an additional 180,074 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Lockheed Martin by 11.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company's stock valued at $546,144,000 after acquiring an additional 119,052 shares during the period. Finally, Wulff Hansen & CO. raised its stake in Lockheed Martin by 56,626.7% in the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company's stock worth $476,947,000 after acquiring an additional 1,019,281 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Price Performance

Lockheed Martin stock traded down $4.16 during trading on Friday, reaching $534.83. The company had a trading volume of 1,757,312 shares, compared to its average volume of 1,063,416. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The firm's 50-day simple moving average is $576.52 and its 200 day simple moving average is $524.37. The firm has a market capitalization of $126.78 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 4.56 and a beta of 0.49. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating 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 business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter last year, the business earned $6.77 earnings per share. The company's revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced 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. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.47%. This is a boost from Lockheed Martin's previous quarterly dividend of $3.15. Lockheed Martin's dividend payout ratio is presently 45.62%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on LMT shares. Morgan Stanley increased their price objective on Lockheed Martin from $503.00 to $599.00 and gave the company an "equal weight" rating in a report on Friday, August 9th. Melius Research raised shares of Lockheed Martin to a "strong-buy" rating in a report on Tuesday, September 3rd. Citigroup raised their target price on Lockheed Martin from $570.00 to $700.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Barclays boosted their price target on Lockheed Martin from $505.00 to $565.00 and gave the company an "equal weight" rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Company raised their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin has an average rating of "Moderate Buy" and a consensus price target 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.