Northwest Bancshares Inc. Cuts Stake in Lockheed Martin Co. (NYSE:LMT)

Northwest Bancshares Inc. lessened its holdings in Lockheed Martin Co. (NYSE:LMT - Free Report) by 16.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,024 shares of the aerospace company's stock after selling 2,807 shares during the quarter. Lockheed Martin makes up approximately 1.4% of Northwest Bancshares Inc.'s investment portfolio, making the stock its 8th largest position. Northwest Bancshares Inc.'s holdings in Lockheed Martin were worth $8,198,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Crewe Advisors LLC purchased a new stake in Lockheed Martin in the 1st quarter valued at about $247,000. Freestone Capital Holdings LLC lifted its position in Lockheed Martin by 12.6% during the first quarter. Freestone Capital Holdings LLC now owns 10,878 shares of the aerospace company's stock valued at $4,948,000 after purchasing an additional 1,215 shares during the last quarter. Wellington Wealth Strategies LLC. bought a new position in Lockheed Martin in the first quarter valued at $271,000. Axxcess Wealth Management LLC boosted its stake in Lockheed Martin by 3.0% in the first quarter. Axxcess Wealth Management LLC now owns 9,412 shares of the aerospace company's stock worth $4,281,000 after buying an additional 276 shares in the last quarter. Finally, First Commonwealth Financial Corp PA raised its position in Lockheed Martin by 11.7% in the 1st quarter. First Commonwealth Financial Corp PA now owns 1,503 shares of the aerospace company's stock worth $684,000 after purchasing an additional 157 shares during the period. 74.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Susquehanna lowered their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a "positive" rating for the company in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. increased their price objective on Lockheed Martin from $560.00 to $630.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. StockNews.com lowered shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 23rd. Finally, Citigroup lifted their price objective on Lockheed Martin from $570.00 to $700.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $611.00.

Lockheed Martin Stock Down 0.1 %

LMT stock traded down $0.50 during trading on Wednesday, hitting $532.76. 498,594 shares of the company's stock were exchanged, compared to its average volume of 1,061,327. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock has a market capitalization of $126.29 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 4.37 and a beta of 0.49. The business has a 50-day moving average price of $574.83 and a two-hundred day moving average price of $526.21.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping 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 business 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 business posted $6.77 earnings per share. The business's revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.48%. This is an increase from Lockheed Martin's previous quarterly dividend of $3.15. Lockheed Martin's dividend payout ratio is currently 45.62%.

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.