Ferguson Wellman Capital Management Inc. Sells 5,207 Shares of Lockheed Martin Co. (NYSE:LMT)

Ferguson Wellman Capital Management Inc. cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 13.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,643 shares of the aerospace company’s stock after selling 5,207 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Lockheed Martin were worth $20,251,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. CVA Family Office LLC boosted its position in shares of Lockheed Martin by 1.1% in the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after purchasing an additional 17 shares during the period. Quad Cities Investment Group LLC boosted its position in shares of Lockheed Martin by 1.2% in the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after purchasing an additional 19 shares during the period. HTLF Bank boosted its position in shares of Lockheed Martin by 3.7% in the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock worth $264,000 after purchasing an additional 20 shares during the period. tru Independence LLC boosted its position in shares of Lockheed Martin by 2.5% in the second quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock worth $386,000 after purchasing an additional 20 shares during the period. Finally, Sachetta LLC boosted its position in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the period. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Price Performance

Lockheed Martin stock traded up $2.19 during mid-day trading on Friday, reaching $611.81. 864,086 shares of the company’s stock traded hands, compared to its average volume of 1,047,170. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $614.62. The company has a market cap of $146.80 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 4.84 and a beta of 0.47. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The stock has a 50 day moving average of $578.29 and a two-hundred day moving average of $510.27.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter in the prior year, the firm posted $6.73 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities analysts forecast that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently announced 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. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.16%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 48.30%.

Analysts Set New Price Targets

A number of research firms have weighed in on LMT. Royal Bank of Canada upped their price target on shares of Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Susquehanna boosted their target price on shares of Lockheed Martin from $565.00 to $705.00 and gave the stock a “positive” rating in a report on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and an average target price of $597.92.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

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.