Focused Investors LLC Sells 32,000 Shares of Lockheed Martin Co. (NYSE:LMT)

Focused Investors LLC lowered its holdings in Lockheed Martin Co. (NYSE:LMT) by 15.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 174,500 shares of the aerospace company’s stock after selling 32,000 shares during the quarter. Lockheed Martin makes up 3.1% of Focused Investors LLC’s portfolio, making the stock its 19th biggest position. Focused Investors LLC owned 0.07% of Lockheed Martin worth $102,006,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Burkett Financial Services LLC purchased a new stake in Lockheed Martin during the third quarter worth $32,000. Mattson Financial Services LLC bought a new position in shares of Lockheed Martin in the 2nd quarter worth $27,000. Sachetta LLC lifted its stake in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC grew its stake in Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the last quarter. Finally, Stephens Consulting LLC raised its holdings in 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 purchasing an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

LMT has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price target on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research report on Tuesday, September 3rd. StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada lowered their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $534.83 on Friday. The firm has a market cap of $126.78 billion, a PE ratio of 19.36, a P/E/G ratio of 4.37 and a beta of 0.49. The business has a 50-day moving average price of $576.52 and a 200 day moving average price of $524.79. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data 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 business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the previous year, the business earned $6.77 earnings per share. The business’s revenue was up 1.3% compared to the same quarter last year. Sell-side analysts predict that Lockheed Martin Co. will post 26.89 earnings per share 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. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.47%. This is an increase 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 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.