Lockheed Martin Co. (NYSE:LMT) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.7% in the third quarter, Holdings Channel reports. The firm owned 46,311 shares of the aerospace company’s stock after selling 795 shares during the period. Retirement Systems of Alabama’s holdings in Lockheed Martin were worth $27,072,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new stake in shares of Lockheed Martin in the 3rd quarter valued at approximately $26,000. Burkett Financial Services LLC acquired a new stake in Lockheed Martin in the 3rd quarter valued at approximately $32,000. Mattson Financial Services LLC purchased a new stake in Lockheed Martin in the second quarter valued at approximately $27,000. Sachetta LLC lifted its stake in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares in the last quarter. Finally, Stephens Consulting LLC boosted its position in shares of Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $494.67 on Friday. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The company has a market cap of $117.26 billion, a P/E ratio of 17.91, a PEG ratio of 4.13 and a beta of 0.46. The firm has a fifty day moving average price of $552.79 and a 200 day moving average price of $531.92.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $6.77 EPS. Sell-side analysts predict that Lockheed Martin Co. will post 26.88 earnings per share for the current fiscal 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 $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.67%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is 47.79%.

Analyst Ratings Changes

Several research firms recently issued reports on LMT. Wells Fargo & Company cut their price objective on Lockheed Martin from $602.00 to $543.00 and set an “equal weight” rating on the stock in a report on Wednesday. Bank of America reiterated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Robert W. Baird upped their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Finally, TD Cowen raised their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $612.29.

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.