Lockheed Martin Co. (NYSE:LMT) Holdings Lowered by Zions Bancorporation N.A.

Zions Bancorporation N.A. cut its position in shares of Lockheed Martin Co. (NYSE:LMT) by 16.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 137 shares of the aerospace company’s stock after selling 26 shares during the quarter. Zions Bancorporation N.A.’s holdings in Lockheed Martin were worth $80,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in LMT. Huntington National Bank increased its stake in shares of Lockheed Martin by 3.8% during the 3rd quarter. Huntington National Bank now owns 144,750 shares of the aerospace company’s stock worth $84,615,000 after purchasing an additional 5,279 shares during the last quarter. ROI Financial Advisors LLC grew its position in shares of Lockheed Martin by 8.9% in the third quarter. ROI Financial Advisors LLC now owns 3,037 shares of the aerospace company’s stock valued at $1,776,000 after purchasing an additional 247 shares during the last quarter. Plato Investment Management Ltd lifted its position in shares of Lockheed Martin by 65.7% during the 3rd quarter. Plato Investment Management Ltd now owns 1,852 shares of the aerospace company’s stock worth $1,082,000 after purchasing an additional 734 shares during the last quarter. Schrum Private Wealth Management LLC grew its holdings in Lockheed Martin by 34.0% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 4,472 shares of the aerospace company’s stock valued at $2,614,000 after buying an additional 1,135 shares during the last quarter. Finally, Kovack Advisors Inc. increased its position in Lockheed Martin by 2.9% in the 3rd quarter. Kovack Advisors Inc. now owns 2,270 shares of the aerospace company’s stock worth $1,327,000 after buying an additional 65 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LMT shares. Morgan Stanley lifted their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research note on Tuesday, September 3rd. Royal Bank of Canada lowered their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. StockNews.com cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird boosted their price objective on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $534.82 on Friday. The company has a 50-day simple moving average of $577.16 and a 200 day simple moving average of $523.91. The company has a market capitalization of $126.77 billion, a price-to-earnings ratio of 19.36, a PEG 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 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 announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $17.38 billion. During the same period last year, the firm posted $6.77 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend 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 2.47%. Lockheed Martin’s dividend payout ratio is 45.62%.

Lockheed Martin 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.