Loomis Sayles & Co. L P Decreases Stock Position in Lockheed Martin Co. (NYSE:LMT)

Loomis Sayles & Co. L P lowered its stake in Lockheed Martin Co. (NYSE:LMT) by 71.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,213 shares of the aerospace company’s stock after selling 41,010 shares during the period. Loomis Sayles & Co. L P’s holdings in Lockheed Martin were worth $9,477,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Burkett Financial Services LLC bought a new stake in shares of Lockheed Martin in the third quarter worth about $32,000. Mattson Financial Services LLC bought a new stake in shares of Lockheed Martin in the second quarter worth about $27,000. Sachetta LLC grew its stake 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 last quarter. Stephens Consulting LLC grew its stake in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Lockheed Martin in the third quarter worth about $40,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 0.8 %

Shares of Lockheed Martin stock opened at $525.73 on Thursday. The company has a fifty day moving average of $570.39 and a 200 day moving average of $528.52. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The company has a market capitalization of $124.62 billion, a P/E ratio of 19.03, a P/E/G ratio of 4.27 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $17.38 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. The business’s revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 2.51%. This is a boost 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 is currently 45.62%.

Wall Street Analysts Forecast Growth

LMT has been the topic of several recent analyst reports. UBS Group raised their target price on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Morgan Stanley lifted their price objective on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Barclays lifted their price objective on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada cut their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

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.