Lockheed Martin Co. (NYSE:LMT) Shares Sold by Empowered Funds LLC

Empowered Funds LLC cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 10.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,008 shares of the aerospace company’s stock after selling 3,491 shares during the period. Empowered Funds LLC’s holdings in Lockheed Martin were worth $17,541,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LMT. Empirical Finance LLC lifted its holdings in Lockheed Martin by 1.6% in the 3rd quarter. Empirical Finance LLC now owns 7,802 shares of the aerospace company’s stock valued at $4,561,000 after acquiring an additional 124 shares during the last quarter. Dearborn Partners LLC increased its holdings in shares of Lockheed Martin by 2.3% in the third quarter. Dearborn Partners LLC now owns 2,311 shares of the aerospace company’s stock valued at $1,351,000 after buying an additional 52 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Lockheed Martin by 4.5% during the 3rd quarter. CIBC Asset Management Inc now owns 46,497 shares of the aerospace company’s stock valued at $27,180,000 after acquiring an additional 1,987 shares during the last quarter. Balboa Wealth Partners grew its holdings in shares of Lockheed Martin by 13.3% in the 3rd quarter. Balboa Wealth Partners now owns 1,556 shares of the aerospace company’s stock worth $909,000 after acquiring an additional 183 shares during the last quarter. Finally, Oak Harbor Wealth Partners LLC boosted its position in shares of Lockheed Martin by 15.6% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 1,046 shares of the aerospace company’s stock valued at $611,000 after purchasing an additional 141 shares during the period. 74.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on LMT. UBS Group increased their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Morgan Stanley lifted their price target 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. Royal Bank of Canada dropped their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their target price on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Melius Research raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Trading Up 0.5 %

NYSE LMT opened at $541.68 on Friday. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The firm has a market capitalization of $128.40 billion, a P/E ratio of 19.52, a PEG ratio of 4.56 and a beta of 0.49. The business has a fifty day simple moving average of $577.75 and a 200 day simple moving average of $523.80. 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 (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping 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 company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the prior year, the company earned $6.77 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced 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. This represents a $13.20 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date 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 45.62%.

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.