Lockheed Martin Co. (NYSE:LMT) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 8.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,281 shares of the aerospace company’s stock after selling 607 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Lockheed Martin were worth $3,672,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LMT. GAMMA Investing LLC grew its position in shares of Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after buying an additional 2,019 shares in the last quarter. Old West Investment Management LLC grew its holdings in Lockheed Martin by 6.6% during the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after acquiring an additional 1,643 shares in the last quarter. Buck Wealth Strategies LLC purchased a new stake in shares of Lockheed Martin in the 2nd quarter valued at approximately $6,611,000. Empower Advisory Group LLC lifted its position in shares of Lockheed Martin by 9.1% during the 3rd quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock worth $12,870,000 after purchasing an additional 1,843 shares during the last quarter. Finally, Financial Enhancement Group LLC lifted its position in shares of Lockheed Martin by 2,268.3% during the 3rd quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock worth $6,105,000 after purchasing an additional 10,003 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

NYSE LMT opened at $534.82 on Friday. The firm has a market cap of $126.77 billion, a P/E ratio of 19.36, a P/E/G ratio of 4.56 and a beta of 0.49. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The business’s 50-day moving average price is $576.52 and its 200 day moving average price is $524.37. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the prior year, the business earned $6.77 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities research analysts expect that Lockheed Martin Co. will post 26.89 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 issued a $3.30 dividend. 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. This represents a $13.20 annualized dividend and a dividend yield of 2.47%. Lockheed Martin’s payout ratio is presently 45.62%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LMT. Wells Fargo & Company raised their price target on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Bank of America reissued a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Royal Bank of Canada dropped their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, StockNews.com lowered shares of 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 given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently 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.