Lockheed Martin Co. (NYSE:LMT) Position Trimmed by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC trimmed its stake in Lockheed Martin Co. (NYSE:LMT) by 2.2% in the third quarter, Holdings Channel.com reports. The firm owned 1,085 shares of the aerospace company’s stock after selling 24 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Lockheed Martin were worth $634,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TIAA Trust National Association increased its stake in shares of Lockheed Martin by 3.5% during the 1st quarter. TIAA Trust National Association now owns 9,811 shares of the aerospace company’s stock worth $4,463,000 after purchasing an additional 334 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in Lockheed Martin during the first quarter valued at about $2,325,000. Catalytic Wealth RIA LLC lifted its position in shares of Lockheed Martin by 3.1% in the first quarter. Catalytic Wealth RIA LLC now owns 1,021 shares of the aerospace company’s stock worth $464,000 after buying an additional 31 shares during the last quarter. Cynosure Group LLC bought a new stake in shares of Lockheed Martin during the 1st quarter worth about $340,000. Finally, Beaumont Financial Advisors LLC raised its stake in shares of Lockheed Martin by 6.2% in the 1st quarter. Beaumont Financial Advisors LLC now owns 1,445 shares of the aerospace company’s stock valued at $657,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.8 %

Shares of LMT stock opened at $534.83 on Friday. The stock has a market cap of $126.78 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 4.37 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The stock has a fifty day moving average price of $576.52 and a 200 day moving average price of $524.79. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95.

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

Lockheed Martin Increases Dividend

The business also recently announced 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 represents a $13.20 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is 45.62%.

Analysts Set New Price Targets

Several equities analysts have commented on LMT shares. Bank of America reiterated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. Barclays lifted their target price on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Citigroup upped their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lifted their price objective on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin 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.