The Manufacturers Life Insurance Company Reduces Position in Lockheed Martin Co. (NYSE:LMT)

The Manufacturers Life Insurance Company reduced its position in Lockheed Martin Co. (NYSE:LMT) by 4.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 421,656 shares of the aerospace company’s stock after selling 18,256 shares during the quarter. The Manufacturers Life Insurance Company owned 0.18% of Lockheed Martin worth $246,483,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Burkett Financial Services LLC bought a new stake in shares of Lockheed Martin during the third quarter worth $32,000. Mattson Financial Services LLC purchased a new position in shares of Lockheed Martin during the second quarter valued at $27,000. Sachetta LLC lifted its stake in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares during the period. Stephens Consulting LLC grew its holdings in Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Lockheed Martin in the 3rd quarter valued at about $40,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

LMT opened at $521.89 on Tuesday. The firm has a market cap of $123.71 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 4.43 and a beta of 0.49. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock’s 50-day moving average price is $572.10 and its 200 day moving average price is $528.17.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.77 earnings per share. As a group, sell-side analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.53%. Lockheed Martin’s dividend payout ratio is 45.62%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. TD Cowen lifted their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barclays lifted their price objective on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research report on Tuesday, September 3rd. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

About Lockheed Martin

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.