Navellier & Associates Inc. Has $3.49 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Navellier & Associates Inc. cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 5.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,976 shares of the aerospace company’s stock after selling 312 shares during the quarter. Navellier & Associates Inc.’s holdings in Lockheed Martin were worth $3,493,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Wellington Wealth Strategies LLC. acquired a new stake in shares of Lockheed Martin in the 1st quarter valued at about $271,000. Axxcess Wealth Management LLC boosted its stake in Lockheed Martin by 3.0% during the 1st quarter. Axxcess Wealth Management LLC now owns 9,412 shares of the aerospace company’s stock valued at $4,281,000 after purchasing an additional 276 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Lockheed Martin by 29.7% in the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after purchasing an additional 218,506 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Lockheed Martin by 7.4% during the first quarter. Canada Pension Plan Investment Board now owns 324,493 shares of the aerospace company’s stock valued at $147,602,000 after buying an additional 22,293 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC grew its holdings in Lockheed Martin by 9.3% during the first quarter. Stonebridge Capital Advisors LLC now owns 714 shares of the aerospace company’s stock worth $325,000 after buying an additional 61 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LMT shares. Wells Fargo & Company increased their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Bank of America reaffirmed a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. UBS Group raised their target price on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley boosted their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Price Performance

NYSE:LMT opened at $534.89 on Thursday. The firm has a market capitalization of $126.79 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 4.36 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The stock has a fifty day moving average of $574.19 and a 200 day moving average of $526.27. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. Lockheed Martin’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm posted $6.77 earnings per share. On average, research analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.47%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is 45.62%.

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.