United Services Automobile Association Sells 15,369 Shares of Lockheed Martin Co. (NYSE:LMT)

United Services Automobile Association cut its stake in Lockheed Martin Co. (NYSE:LMT) by 26.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,492 shares of the aerospace company’s stock after selling 15,369 shares during the period. United Services Automobile Association’s holdings in Lockheed Martin were worth $25,424,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LMT. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin in the third quarter worth $26,000. Burkett Financial Services LLC purchased a new position in Lockheed Martin during the 3rd quarter valued at about $32,000. Mattson Financial Services LLC purchased a new stake in Lockheed Martin in the second quarter worth about $27,000. Sachetta LLC boosted its position in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares in the last quarter. Finally, Stephens Consulting LLC grew its stake in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LMT. Barclays raised 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 report on Tuesday, October 29th. Robert W. Baird raised their target price on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Citigroup increased their price objective 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. UBS Group boosted their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Trading Down 0.9 %

LMT stock opened at $513.04 on Friday. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The stock has a market capitalization of $121.61 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 4.22 and a beta of 0.46. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm’s fifty day simple moving average is $563.89 and its two-hundred day simple moving average is $530.36.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping 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 company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period in the prior year, the company posted $6.77 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, analysts anticipate that Lockheed Martin Co. will post 26.94 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 47.79%.

About Lockheed Martin

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.