Lockheed Martin Co. (NYSE:LMT) Shares Sold by Strategy Asset Managers LLC

Strategy Asset Managers LLC trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 11.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,701 shares of the aerospace company's stock after selling 3,241 shares during the quarter. Lockheed Martin makes up approximately 2.8% of Strategy Asset Managers LLC's investment portfolio, making the stock its 5th largest position. Strategy Asset Managers LLC's holdings in Lockheed Martin were worth $14,439,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in shares of Lockheed Martin during the 1st quarter worth $247,000. Freestone Capital Holdings LLC raised its stake 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 worth $4,948,000 after purchasing an additional 1,215 shares during the period. Wellington Wealth Strategies LLC. acquired a new position in Lockheed Martin in the 1st quarter valued at about $271,000. Axxcess Wealth Management LLC grew its stake in shares of Lockheed Martin by 3.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 9,412 shares of the aerospace company's stock valued at $4,281,000 after buying an additional 276 shares during the period. Finally, First Commonwealth Financial Corp PA increased its holdings in shares of Lockheed Martin by 11.7% during the 1st quarter. First Commonwealth Financial Corp PA now owns 1,503 shares of the aerospace company's stock worth $684,000 after buying an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded up $0.17 on Wednesday, reaching $533.43. The company's stock had a trading volume of 443,247 shares, compared to its average volume of 1,061,140. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The stock's 50-day moving average is $574.83 and its two-hundred day moving average is $526.21. The stock has a market capitalization of $126.44 billion, a P/E ratio of 19.19, a PEG ratio of 4.37 and a beta of 0.49.

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. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business's revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business posted $6.77 earnings per share. As a group, sell-side analysts forecast 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. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. This is a boost from Lockheed Martin's previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.47%. Lockheed Martin's dividend payout ratio (DPR) is 45.62%.

Analyst Ratings Changes

LMT has been the subject of several recent analyst reports. Royal Bank of Canada cut their target price on Lockheed Martin from $675.00 to $665.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. Robert W. Baird lifted their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Melius Research upgraded shares of Lockheed Martin to a "strong-buy" rating in a report on Tuesday, September 3rd. Morgan Stanley lifted their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an "equal weight" rating in a report on Friday, August 9th. Finally, StockNews.com lowered Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. 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 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.