Cullinan Associates Inc. Sells 1,527 Shares of Lockheed Martin Co. (NYSE:LMT)

Cullinan Associates Inc. decreased its holdings in Lockheed Martin Co. (NYSE:LMT) by 5.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,174 shares of the aerospace company’s stock after selling 1,527 shares during the quarter. Cullinan Associates Inc.’s holdings in Lockheed Martin were worth $16,055,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Ameriprise Financial Inc. lifted its holdings in Lockheed Martin by 1.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after buying an additional 31,545 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Lockheed Martin by 60,592.0% during the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after acquiring an additional 1,556,609 shares during the period. Legal & General Group Plc boosted its holdings in Lockheed Martin by 14.9% in the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after acquiring an additional 180,074 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Lockheed Martin by 11.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock valued at $546,144,000 after acquiring an additional 119,052 shares during the last quarter. Finally, Wulff Hansen & CO. increased its position in Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after purchasing an additional 1,019,281 shares during the period. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 0.2 %

Shares of LMT stock traded up $0.97 during trading hours on Friday, hitting $565.18. 98,801 shares of the company were exchanged, compared to its average volume of 1,050,286. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The business has a 50 day moving average of $579.95 and a two-hundred day moving average of $513.50. The company has a market capitalization of $135.61 billion, a PE ratio of 20.64, a PEG ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.77 EPS. Analysts anticipate that Lockheed Martin Co. will post 26.68 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.34%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is 48.30%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LMT shares. Citigroup boosted their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Bank of America reiterated a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. lifted their price objective on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Susquehanna cut their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and an average price target of $606.71.

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.