US Bancorp DE Sells 1,700 Shares of Lockheed Martin Co. (NYSE:LMT)

US Bancorp DE decreased its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,978 shares of the aerospace company’s stock after selling 1,700 shares during the period. US Bancorp DE owned about 0.07% of Lockheed Martin worth $92,348,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LMT. Ameriprise Financial Inc. grew its holdings 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 grew its holdings in shares of Lockheed Martin by 60,592.0% in the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after acquiring an additional 1,556,609 shares during the period. Legal & General Group Plc grew its holdings in shares of 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 worth $646,828,000 after acquiring an additional 180,074 shares during the period. Dimensional Fund Advisors LP grew its holdings 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 valued at $546,144,000 after purchasing an additional 119,052 shares during the period. Finally, Wulff Hansen & CO. grew its holdings in Lockheed Martin by 56,626.7% during the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after purchasing an additional 1,019,281 shares during the period. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

LMT has been the subject of several recent research reports. TD Cowen boosted their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. UBS Group boosted their price target on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Morgan Stanley boosted their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Robert W. Baird boosted their price target on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Finally, Bank of America reaffirmed a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $546.45 on Friday. The stock has a 50 day moving average of $579.44 and a 200 day moving average of $517.34. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The firm has a market cap of $129.53 billion, a PE ratio of 19.78, a PEG ratio of 4.47 and a beta of 0.47. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same period in the prior year, the company earned $6.77 earnings per share. The firm’s revenue was up 1.3% on a year-over-year basis. On average, research analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.42%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is presently 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.