Huntington National Bank lifted its position in Lockheed Martin Co. (NYSE:LMT) by 3.3% in the 3rd quarter, Holdings Channel reports. The fund owned 146,342 shares of the aerospace company’s stock after acquiring an additional 4,715 shares during the period. Huntington National Bank’s holdings in Lockheed Martin were worth $50,629,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Canton Hathaway LLC bought a new stake in Lockheed Martin during the 3rd quarter valued at about $104,000. FTB Advisors Inc. lifted its holdings in Lockheed Martin by 142.6% during the 2nd quarter. FTB Advisors Inc. now owns 359 shares of the aerospace company’s stock valued at $105,000 after buying an additional 211 shares in the last quarter. Fort L.P. bought a new stake in Lockheed Martin during the 2nd quarter valued at about $116,000. FNY Investment Advisers LLC bought a new stake in Lockheed Martin during the 2nd quarter valued at about $117,000. Finally, Quad Cities Investment Group LLC bought a new stake in Lockheed Martin during the 2nd quarter valued at about $131,000. Hedge funds and other institutional investors own 77.84% of the company’s stock.

Shares of NYSE:LMT traded down $6.65 during trading hours on Thursday, hitting $326.75. The company’s stock had a trading volume of 57,947 shares, compared to its average volume of 1,423,734. Lockheed Martin Co. has a 52 week low of $291.52 and a 52 week high of $363.00. The company has a debt-to-equity ratio of 28.14, a quick ratio of 0.97 and a current ratio of 1.19. The firm has a market cap of $98.52 billion, a P/E ratio of 24.73, a P/E/G ratio of 2.74 and a beta of 0.71.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 24th. The aerospace company reported $4.31 EPS for the quarter, beating the consensus estimate of $3.92 by $0.39. Lockheed Martin had a net margin of 5.00% and a return on equity of 944.31%. The business had revenue of $13.40 billion during the quarter, compared to analyst estimates of $12.72 billion. During the same quarter in the previous year, the business posted $3.23 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, research analysts predict that Lockheed Martin Co. will post 17.21 EPS for the current fiscal year.

Lockheed Martin declared that its Board of Directors has initiated a share repurchase program on Thursday, September 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to reacquire up to 1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 3rd will be given a $2.20 dividend. The ex-dividend date is Friday, November 30th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.69%. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.00. Lockheed Martin’s payout ratio is presently 60.02%.

In other news, Chairman Marillyn A. Hewson sold 25,000 shares of Lockheed Martin stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $323.68, for a total value of $8,092,000.00. Following the transaction, the chairman now owns 90,625 shares of the company’s stock, valued at approximately $29,333,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Maryanne Lavan sold 7,250 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 25th. The stock was sold at an average price of $323.64, for a total transaction of $2,346,390.00. Following the completion of the transaction, the senior vice president now directly owns 9,869 shares in the company, valued at approximately $3,194,003.16. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

A number of brokerages recently weighed in on LMT. UBS Group began coverage on shares of Lockheed Martin in a report on Wednesday, August 15th. They set a “buy” rating and a $400.00 price objective for the company. Credit Suisse Group lifted their price objective on shares of Lockheed Martin from $340.00 to $368.00 and gave the company a “neutral” rating in a report on Wednesday, October 3rd. Zacks Investment Research upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $377.00 price target for the company in a report on Thursday, October 11th. Cowen upgraded shares of Lockheed Martin from a “market perform” rating to an “outperform” rating and set a $370.00 price target for the company in a report on Wednesday, July 25th. Finally, Stifel Nicolaus reduced their price target on shares of Lockheed Martin from $400.00 to $370.00 and set a “buy” rating for the company in a report on Wednesday, July 25th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $377.14.

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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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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