Verity Asset Management Inc. Sells 2,317 Shares of Lockheed Martin Co. (NYSE:LMT)

Verity Asset Management Inc. reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 50.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,279 shares of the aerospace company’s stock after selling 2,317 shares during the quarter. Verity Asset Management Inc.’s holdings in Lockheed Martin were worth $1,107,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Algert Global LLC bought a new stake in Lockheed Martin in the 2nd quarter worth approximately $277,000. Czech National Bank increased its position in Lockheed Martin by 6.2% in the third quarter. Czech National Bank now owns 43,214 shares of the aerospace company’s stock worth $25,261,000 after purchasing an additional 2,520 shares during the last quarter. GAMMA Investing LLC lifted its position in Lockheed Martin by 26.1% during the third quarter. GAMMA Investing LLC now owns 4,504 shares of the aerospace company’s stock valued at $2,633,000 after purchasing an additional 932 shares during the last quarter. WealthBridge Capital Management LLC bought a new position in Lockheed Martin during the third quarter valued at $258,000. Finally, IAM Advisory LLC increased its holdings in shares of Lockheed Martin by 1.3% in the 3rd quarter. IAM Advisory LLC now owns 4,081 shares of the aerospace company’s stock worth $2,386,000 after buying an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 1.5 %

Shares of NYSE LMT opened at $455.85 on Tuesday. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The firm has a market cap of $107.30 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 2.96 and a beta of 0.48. The business has a fifty day simple moving average of $492.29 and a two-hundred day simple moving average of $537.32. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Analysts expect that Lockheed Martin Co. will post 27.29 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.90%. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Wall Street Analyst Weigh In

LMT has been the subject of a number of analyst reports. TD Cowen increased their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Barclays decreased their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Susquehanna cut their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their target price for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $555.60.

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.