Lockheed Martin Co. (NYSE:LMT) Shares Sold by Wright Investors Service Inc.

Wright Investors Service Inc. reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 28.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,183 shares of the aerospace company’s stock after selling 869 shares during the quarter. Wright Investors Service Inc.’s holdings in Lockheed Martin were worth $1,276,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Mattson Financial Services LLC purchased a new stake in Lockheed Martin in the 2nd quarter worth approximately $27,000. Sachetta LLC grew its stake in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares during the period. Wiser Advisor Group LLC grew its stake in Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in Lockheed Martin in the 1st quarter worth approximately $30,000. Finally, Stephens Consulting LLC grew its stake in Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on LMT shares. Morgan Stanley lifted their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Susquehanna boosted their price objective on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $500.00 to $600.00 in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. 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 given a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average price target of $562.54.

Lockheed Martin Stock Down 0.1 %

LMT stock traded down $0.69 during trading on Friday, reaching $605.13. The stock had a trading volume of 560,051 shares, compared to its average volume of 1,065,046. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $611.49. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The company has a market capitalization of $145.19 billion, a P/E ratio of 22.14, a PEG ratio of 4.66 and a beta of 0.47. The firm has a fifty day moving average price of $565.71 and a 200 day moving average price of $499.64.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.73 EPS. On average, equities analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.18%. 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. Lockheed Martin’s dividend payout ratio is 46.10%.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.17% of the company’s stock.

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.