Mutual of America Capital Management LLC Sells 811 Shares of Lockheed Martin Co. (NYSE:LMT)

Mutual of America Capital Management LLC lowered its position in shares of Lockheed Martin Co. (NYSE:LMT) by 3.0% in the third quarter, HoldingsChannel reports. The fund owned 26,088 shares of the aerospace company’s stock after selling 811 shares during the period. Mutual of America Capital Management LLC’s holdings in Lockheed Martin were worth $15,250,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. International Assets Investment Management LLC boosted its holdings in 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 worth $911,433,000 after purchasing an additional 1,556,609 shares during the last quarter. Wulff Hansen & CO. raised its position in 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 worth $476,947,000 after acquiring an additional 1,019,281 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in 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 valued at $263,561,000 after acquiring an additional 249,591 shares during the last quarter. Capital Research Global Investors grew its position in shares of Lockheed Martin by 29.7% in the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after acquiring an additional 218,506 shares during the period. Finally, National Bank of Canada FI grew its position in shares of Lockheed Martin by 219.3% in the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock valued at $149,138,000 after acquiring an additional 218,466 shares during the period. 74.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on LMT. StockNews.com cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company lifted their target price on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Royal Bank of Canada dropped their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Morgan Stanley lifted their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Finally, Citigroup increased their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have given 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $534.83 on Friday. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The company’s 50 day moving average price is $576.52 and its two-hundred day moving average price is $524.79. The firm has a market cap of $126.78 billion, a PE ratio of 19.36, a PEG ratio of 4.37 and a beta of 0.49. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping 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 return on equity of 101.44% and a net margin of 9.36%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.77 earnings per share. Equities research analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

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