Lockheed Martin Co. (NYSE:LMT) Shares Sold by Empowered Funds LLC

Empowered Funds LLC cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 10.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,008 shares of the aerospace company's stock after selling 3,491 shares during the period. Empowered Funds LLC's holdings in Lockheed Martin were worth $17,541,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blair William & Co. IL grew its position in shares of Lockheed Martin by 8.8% in the first quarter. Blair William & Co. IL now owns 31,819 shares of the aerospace company's stock valued at $14,474,000 after purchasing an additional 2,563 shares in the last quarter. Intech Investment Management LLC grew its holdings in Lockheed Martin by 27.9% in the 1st quarter. Intech Investment Management LLC now owns 64,208 shares of the aerospace company's stock valued at $29,206,000 after buying an additional 14,018 shares in the last quarter. Spirepoint Private Client LLC acquired a new stake in shares of Lockheed Martin in the 1st quarter worth $6,591,000. TIAA Trust National Association boosted its position in shares of Lockheed Martin by 3.5% during the 1st quarter. TIAA Trust National Association now owns 9,811 shares of the aerospace company's stock valued at $4,463,000 after acquiring an additional 334 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new stake in shares of Lockheed Martin in the first quarter valued at about $2,325,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Analysts Set New Price Targets

LMT has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an "equal weight" rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their target price on Lockheed Martin from $600.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. UBS Group upped their price target on Lockheed Martin from $589.00 to $603.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Citigroup upped their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Finally, Melius Research upgraded shares of Lockheed Martin to a "strong-buy" rating in a report on Tuesday, September 3rd. One research 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $611.00.

Lockheed Martin Stock Down 0.8 %

Lockheed Martin stock traded down $4.17 during midday trading on Friday, reaching $534.82. The company's stock had a trading volume of 1,757,076 shares, compared to its average volume of 1,063,416. The business has a 50-day simple moving average of $577.16 and a 200-day simple moving average of $523.91. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The company has a market cap of $126.77 billion, a P/E ratio of 19.47, a P/E/G ratio of 4.56 and a beta of 0.49. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $17.38 billion. During the same period last year, the firm posted $6.77 EPS. The company's revenue was up 1.3% on a year-over-year basis. On average, research analysts expect 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. Investors of record on Monday, December 2nd will be given a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin's previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.47%. Lockheed Martin's dividend payout ratio is 45.62%.

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.