ARK Investment Management LLC Has $13.62 Million Holdings in Lockheed Martin Co. (NYSE:LMT)

ARK Investment Management LLC trimmed its stake in Lockheed Martin Co. (NYSE:LMT) by 10.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,301 shares of the aerospace company’s stock after selling 2,773 shares during the period. ARK Investment Management LLC’s holdings in Lockheed Martin were worth $13,621,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Ameriprise Financial Inc. lifted its stake in shares of Lockheed Martin by 1.7% in the second quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after acquiring an additional 31,545 shares during the period. International Assets Investment Management LLC increased its stake in shares of Lockheed Martin by 60,592.0% in the 3rd 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 in the last quarter. Legal & General Group Plc lifted its position in shares of Lockheed Martin by 14.9% during the 2nd 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 period. Dimensional Fund Advisors LP boosted its stake in Lockheed Martin by 11.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock worth $546,144,000 after acquiring an additional 119,052 shares in the last quarter. Finally, Wulff Hansen & CO. grew its holdings 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. 74.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. upped their target price on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Bank of America reiterated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Finally, Barclays boosted their price target on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Stock Performance

NYSE LMT opened at $551.98 on Friday. The company has a market capitalization of $130.84 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 4.44 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 Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The company has a 50-day simple moving average of $578.42 and a 200 day simple moving average of $520.28.

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. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.77 earnings per share. On average, research analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.39%. Lockheed Martin’s payout ratio is 45.62%.

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.