Charles Schwab Investment Management Inc. Has $3.71 Billion Holdings in Lockheed Martin Co. (NYSE:LMT)

Charles Schwab Investment Management Inc. reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 6.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,338,610 shares of the aerospace company’s stock after selling 466,215 shares during the quarter. Lockheed Martin comprises 0.7% of Charles Schwab Investment Management Inc.’s portfolio, making the stock its 27th biggest holding. Charles Schwab Investment Management Inc.’s holdings in Lockheed Martin were worth $3,705,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its stake in shares of Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after purchasing an additional 1,556,609 shares during the period. Wulff Hansen & CO. boosted 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 worth $476,947,000 after buying an additional 1,019,281 shares during the period. Los Angeles Capital Management LLC increased its stake in Lockheed Martin by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock valued at $263,561,000 after buying an additional 249,591 shares during the last quarter. Capital Research Global Investors boosted its holdings 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 buying an additional 218,506 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Lockheed Martin by 14.9% during the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after acquiring an additional 180,074 shares during the period. Institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on LMT shares. Deutsche Bank Aktiengesellschaft upped their target price on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Citigroup boosted their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. TD Cowen raised their price objective on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Susquehanna decreased their price target on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada lowered their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Trading Up 0.1 %

Shares of LMT opened at $535.08 on Thursday. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The stock has a market cap of $126.84 billion, a PE ratio of 19.37, a P/E/G ratio of 4.36 and a beta of 0.49. The business’s 50-day moving average price is $574.19 and its 200-day moving average price is $526.27.

Lockheed Martin (NYSE:LMT) last released its quarterly 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. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the company earned $6.77 EPS. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is a boost 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 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.