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

United Services Automobile Association lowered its holdings in Lockheed Martin Co. (NYSE:LMT) by 26.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 43,492 shares of the aerospace company’s stock after selling 15,369 shares during the quarter. United Services Automobile Association’s holdings in Lockheed Martin were worth $25,424,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. FMR LLC boosted its position in Lockheed Martin by 6.6% during the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after acquiring an additional 209,591 shares in the last quarter. Wellington Management Group LLP increased its position in Lockheed Martin by 8.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after buying an additional 240,306 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Lockheed Martin by 1.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after purchasing an additional 31,545 shares during the last quarter. International Assets Investment Management LLC raised 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 buying an additional 1,556,609 shares during the last quarter. Finally, Legal & General Group Plc increased 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 valued at $646,828,000 after purchasing an additional 180,074 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Robert W. Baird upped their price target on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Barclays lifted their price target on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Susquehanna cut their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a report on Wednesday, October 23rd. Finally, Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Performance

NYSE:LMT opened at $513.04 on Friday. The firm has a market capitalization of $121.61 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 4.22 and a beta of 0.46. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The business’s fifty day moving average price is $563.89 and its 200 day moving average price is $530.36. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter last year, the company earned $6.77 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 26.94 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 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 is currently 47.79%.

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.