Hennion & Walsh Asset Management Inc. Trims Stock Position in Lockheed Martin Co. (NYSE:LMT)

Hennion & Walsh Asset Management Inc. decreased its position in Lockheed Martin Co. (NYSE:LMT) by 8.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,601 shares of the aerospace company’s stock after selling 537 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Lockheed Martin were worth $3,274,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LMT. International Assets Investment Management LLC grew its position in Lockheed Martin by 60,592.0% in the third 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 during the period. Wulff Hansen & CO. lifted its stake in shares of 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 valued at $476,947,000 after purchasing an additional 1,019,281 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Lockheed Martin by 1,075.2% during the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after purchasing an additional 440,169 shares during the period. Capital Research Global Investors increased 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 purchasing an additional 218,506 shares during the last quarter. Finally, National Bank of Canada FI increased its position in shares of Lockheed Martin by 219.3% during the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock worth $149,138,000 after purchasing an additional 218,466 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LMT. Morgan Stanley increased 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. JPMorgan Chase & Co. lifted their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Robert W. Baird upped their price target on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday. Susquehanna dropped their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday. Finally, Bank of America reiterated a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. One equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $606.71.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $564.21 on Friday. The business has a 50-day simple moving average of $579.95 and a 200-day simple moving average of $513.50. The company has a market cap of $135.38 billion, a PE ratio of 20.64, a P/E/G ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the prior year, the firm posted $6.77 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities research analysts forecast that Lockheed Martin Co. will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.34%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is 48.30%.

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.