Victory Capital Management Inc. Cuts Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Victory Capital Management Inc. cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 18.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 227,481 shares of the aerospace company's stock after selling 49,946 shares during the period. Victory Capital Management Inc. owned approximately 0.10% of Lockheed Martin worth $132,976,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC grew its stake in shares of Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company's stock worth $911,433,000 after acquiring an additional 1,556,609 shares in the last quarter. Wulff Hansen & CO. grew its position 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 purchasing an additional 1,019,281 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Lockheed Martin by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company's stock valued at $263,561,000 after buying an additional 249,591 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company's stock worth $433,621,000 after buying an additional 218,506 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Lockheed Martin by 219.3% in the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company's stock worth $149,138,000 after buying an additional 218,466 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded down $8.23 during midday trading on Wednesday, reaching $557.73. 1,110,609 shares of the company traded hands, compared to its average volume of 1,056,128. The firm's fifty day moving average price is $578.09 and its two-hundred day moving average price is $523.56. The firm has a market capitalization of $132.20 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 4.63 and a beta of 0.49. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating 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 firm had revenue of $17.10 billion for the quarter, compared to analysts' expectations of $17.38 billion. During the same period in the prior year, the business posted $6.77 earnings per share. The company's revenue was up 1.3% on a year-over-year basis. On average, equities analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This is a positive change 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 2.37%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin's payout ratio is 47.79%.

Analyst Ratings Changes

A number of analysts recently commented on LMT shares. UBS Group increased their price target on Lockheed Martin from $589.00 to $603.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Bank of America reaffirmed a "buy" rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Susquehanna cut their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a "positive" rating on the stock in a report on Wednesday, October 23rd. Barclays raised their price objective on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $611.00.

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.