Lockheed Martin Corporation $LMT Shares Sold by ING Groep NV

ING Groep NV lessened its stake in Lockheed Martin Corporation (NYSE:LMT) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,560 shares of the aerospace company’s stock after selling 878 shares during the quarter. ING Groep NV’s holdings in Lockheed Martin were worth $13,259,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LMT. Barnes Dennig Private Wealth Management LLC lifted its position in shares of Lockheed Martin by 285.7% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock valued at $27,000 after acquiring an additional 40 shares during the period. Grey Fox Wealth Advisors LLC purchased a new position in Lockheed Martin in the 3rd quarter valued at approximately $27,000. Mid American Wealth Advisory Group Inc. purchased a new position in Lockheed Martin in the 2nd quarter valued at approximately $28,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Lockheed Martin during the second quarter worth $29,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Lockheed Martin in the third quarter valued at $35,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT opened at $628.98 on Thursday. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $646.59. The company’s 50 day simple moving average is $537.63 and its 200 day simple moving average is $491.07. The company has a market capitalization of $144.72 billion, a price-to-earnings ratio of 29.27, a PEG ratio of 1.14 and a beta of 0.23. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.94 and a current ratio of 1.09.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Thursday, January 29th. The aerospace company reported $5.80 earnings per share for the quarter, missing the consensus estimate of $6.33 by ($0.53). The business had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.84 billion. Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The company’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $7.67 earnings per share. On average, sell-side analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 2nd will be paid a $3.45 dividend. This represents a $13.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, March 2nd. Lockheed Martin’s dividend payout ratio (DPR) is presently 64.22%.

Wall Street Analysts Forecast Growth

LMT has been the subject of several research reports. TD Cowen lifted their price target on Lockheed Martin from $600.00 to $670.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Robert W. Baird lifted their target price on shares of Lockheed Martin from $550.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. Morgan Stanley set a $675.00 price target on shares of Lockheed Martin in a report on Wednesday, February 4th. UBS Group raised their price objective on shares of Lockheed Martin from $580.00 to $663.00 and gave the stock a “neutral” rating in a research note on Monday, February 2nd. Finally, Jefferies Financial Group upped their target price on Lockheed Martin from $540.00 to $630.00 and gave the company a “hold” rating in a research note on Sunday, February 1st. Six equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin currently has an average rating of “Hold” and a consensus price target of $612.50.

Lockheed Martin Company Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.