Capital Investment Advisors LLC Lowers Stake in Lockheed Martin Co. (NYSE:LMT)

Capital Investment Advisors LLC cut its stake in Lockheed Martin Co. (NYSE:LMT) by 5.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 90,120 shares of the aerospace company’s stock after selling 5,404 shares during the period. Lockheed Martin comprises approximately 1.1% of Capital Investment Advisors LLC’s portfolio, making the stock its 19th largest position. Capital Investment Advisors LLC’s holdings in Lockheed Martin were worth $52,680,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Wulff Hansen & CO. raised its holdings in shares of Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after buying an additional 1,019,281 shares in the last quarter. Van ECK Associates Corp grew its position in Lockheed Martin by 1,075.2% during the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after acquiring an additional 440,169 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Lockheed Martin by 29.7% during the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after acquiring an additional 218,506 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Lockheed Martin by 219.3% in the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock worth $149,138,000 after acquiring an additional 218,466 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Lockheed Martin by 14.9% in the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after purchasing an additional 180,074 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LMT shares. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Susquehanna lifted their price objective on Lockheed Martin from $565.00 to $705.00 and gave the stock a “positive” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their target price on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Bank of America reaffirmed a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $597.92.

Lockheed Martin Stock Performance

NYSE:LMT opened at $611.76 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The firm’s fifty day simple moving average is $578.29 and its 200 day simple moving average is $510.27. The stock has a market cap of $146.78 billion, a P/E ratio of 22.38, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $614.62.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same quarter in the previous year, the firm posted $6.73 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, research analysts predict that Lockheed Martin Co. will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.16%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 48.30%.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is currently owned by company insiders.

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.