Gulf International Bank UK Ltd Sells 767 Shares of Lockheed Martin Co. (NYSE:LMT)

Gulf International Bank UK Ltd trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 55.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 622 shares of the aerospace company’s stock after selling 767 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Lockheed Martin were worth $363,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Lockheed Martin by 130.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after acquiring an additional 2,019 shares during the period. Buck Wealth Strategies LLC bought a new position in Lockheed Martin during the second quarter worth $6,611,000. McAdam LLC boosted its position in Lockheed Martin by 101.7% during the third quarter. McAdam LLC now owns 1,178 shares of the aerospace company’s stock worth $689,000 after purchasing an additional 594 shares during the period. Verity & Verity LLC raised its position in shares of Lockheed Martin by 3.2% in the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock valued at $15,992,000 after purchasing an additional 1,071 shares during the period. Finally, Watts Gwilliam & Co. LLC acquired a new stake in shares of Lockheed Martin during the 3rd quarter worth about $1,096,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

NYSE LMT opened at $564.56 on Friday. The firm’s 50 day simple moving average is $578.06 and its 200 day simple moving average is $521.21. The firm has a market capitalization of $133.82 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 4.51 and a beta of 0.49. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly 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. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $6.77 EPS. As a group, research analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.34%. Lockheed Martin’s payout ratio is 47.79%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Bank of America reiterated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. UBS Group increased their target price on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Robert W. Baird upped their price objective on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada dropped their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin currently has a consensus 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.