Lockheed Martin Co. (NYSE:LMT) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. reduced its position in shares of Lockheed Martin Co. (NYSE:LMT) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,346 shares of the aerospace company’s stock after selling 305 shares during the period. Hartford Investment Management Co.’s holdings in Lockheed Martin were worth $7,802,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. Meadow Creek Wealth Advisors LLC boosted its holdings in Lockheed Martin by 7.1% in the third quarter. Meadow Creek Wealth Advisors LLC now owns 874 shares of the aerospace company’s stock valued at $511,000 after purchasing an additional 58 shares in the last quarter. Elevated Capital Advisors LLC lifted its position in shares of Lockheed Martin by 3.3% during the 3rd quarter. Elevated Capital Advisors LLC now owns 1,100 shares of the aerospace company’s stock worth $643,000 after buying an additional 35 shares during the last quarter. Marietta Wealth Management LLC boosted its holdings in shares of Lockheed Martin by 2.3% in the 3rd quarter. Marietta Wealth Management LLC now owns 10,742 shares of the aerospace company’s stock valued at $6,279,000 after buying an additional 245 shares in the last quarter. Lazari Capital Management Inc. acquired a new stake in Lockheed Martin during the 3rd quarter worth $204,000. Finally, Community Trust & Investment Co. purchased a new stake in Lockheed Martin in the third quarter valued at $513,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

NYSE:LMT traded up $3.52 during mid-day trading on Wednesday, hitting $580.50. The stock had a trading volume of 212,495 shares, compared to its average volume of 1,048,353. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock has a market cap of $139.28 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 4.84 and a beta of 0.47. The company’s 50 day simple moving average is $579.79 and its 200 day simple moving average is $513.10.

Lockheed Martin (NYSE:LMT) last announced its 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. The business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.77 EPS. On average, equities research analysts forecast that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced 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. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is presently 48.30%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LMT. Robert W. Baird increased their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday. Bank of America reissued a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. Royal Bank of Canada upped their price objective on Lockheed Martin from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. UBS Group increased their price objective on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Citigroup increased their price target on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $599.21.

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.