Eqis Capital Management Inc. trimmed its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 6.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,412 shares of the aerospace company’s stock after selling 385 shares during the period. Eqis Capital Management Inc.’s holdings in Lockheed Martin were worth $2,111,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Krane Funds Advisors LLC acquired a new position in Lockheed Martin in the 2nd quarter valued at $26,000. Paragon Capital Management LLC boosted its position in Lockheed Martin by 406.7% during the 2nd quarter. Paragon Capital Management LLC now owns 76 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 61 shares during the period. Accurate Investment Solutions Inc. boosted its position in Lockheed Martin by 257.1% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 75 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 54 shares during the period. KCS Wealth Advisory purchased a new stake in Lockheed Martin during the 3rd quarter worth $37,000. Finally, MRA Associates USA LLC purchased a new stake in Lockheed Martin during the 2nd quarter worth $38,000. Institutional investors own 78.79% of the company’s stock.
NYSE:LMT traded up $2.47 on Wednesday, reaching $388.77. The stock had a trading volume of 40,874 shares, compared to its average volume of 1,178,215. The company has a current ratio of 1.28, a quick ratio of 1.05 and a debt-to-equity ratio of 3.21. The company has a 50-day moving average of $380.22 and a 200 day moving average of $365.77. The stock has a market cap of $107.71 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95. Lockheed Martin Co. has a 12-month low of $241.18 and a 12-month high of $399.96.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a $2.40 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.20. This represents a $9.60 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Friday, November 29th. Lockheed Martin’s dividend payout ratio is presently 49.30%.
Lockheed Martin declared that its board has authorized a share repurchase plan on Thursday, September 26th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the aerospace company to purchase up to 1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
A number of analysts recently weighed in on the stock. Morgan Stanley decreased their price target on shares of Lockheed Martin from $381.00 to $364.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Credit Suisse Group decreased their price target on shares of Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on shares of Lockheed Martin from $395.00 to $360.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. DZ Bank reaffirmed a “hold” rating on shares of Lockheed Martin in a research report on Thursday, July 25th. Finally, Barclays reaffirmed a “hold” rating and set a $410.00 price target on shares of Lockheed Martin in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $371.79.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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