Mizuho Securities USA LLC Cuts Stake in Lockheed Martin Co. (NYSE:LMT)

Mizuho Securities USA LLC reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 16.5% during the third quarter, according to its most recent filing with the SEC. The fund owned 13,756 shares of the aerospace company’s stock after selling 2,712 shares during the quarter. Mizuho Securities USA LLC’s holdings in Lockheed Martin were worth $8,041,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC increased its position in shares of Lockheed Martin by 60,592.0% during the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after buying an additional 1,556,609 shares during the period. Wulff Hansen & CO. increased its position in shares of Lockheed Martin by 56,626.7% during the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after buying an additional 1,019,281 shares during the period. Los Angeles Capital Management LLC increased its position in shares of Lockheed Martin by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after purchasing an additional 249,591 shares during the last quarter. Capital Research Global Investors increased its position 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 worth $433,621,000 after purchasing an additional 218,506 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Lockheed Martin by 14.9% in the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after purchasing an additional 180,074 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $534.89 on Thursday. The stock has a market cap of $126.79 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth 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 50 day moving average price of $574.19 and a 200-day moving average price of $526.27. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95.

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

Lockheed Martin Increases Dividend

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

Analysts Set New Price Targets

Several research firms recently weighed in on LMT. Royal Bank of Canada decreased their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research note on Tuesday, September 3rd. Citigroup upped their target price on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company upped their target price on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley increased their price objective on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $611.00.

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.