Franklin Resources Inc. Has $1.27 Billion Position in Lockheed Martin Co. (NYSE:LMT)

Franklin Resources Inc. cut its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 9.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,085,251 shares of the aerospace company’s stock after selling 213,335 shares during the quarter. Franklin Resources Inc. owned approximately 0.88% of Lockheed Martin worth $1,273,814,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can lifted its stake in shares of Lockheed Martin by 2.1% in the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after purchasing an additional 13,253 shares during the period. Hilltop Holdings Inc. lifted its stake in shares of Lockheed Martin by 79.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after purchasing an additional 5,361 shares during the period. Old West Investment Management LLC lifted its stake in shares of Lockheed Martin by 6.6% in the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after purchasing an additional 1,643 shares during the period. Empower Advisory Group LLC lifted its stake in shares of Lockheed Martin by 9.1% in the 3rd quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock valued at $12,870,000 after purchasing an additional 1,843 shares during the period. Finally, Buck Wealth Strategies LLC acquired a new position in Lockheed Martin during the 2nd quarter worth approximately $6,611,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Shares of LMT opened at $496.69 on Friday. 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 company has a market capitalization of $117.74 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 4.13 and a beta of 0.46. The stock has a 50 day moving average of $555.00 and a 200 day moving average of $531.74. 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 quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the business posted $6.77 earnings per share. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 26.88 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a $3.30 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is currently 47.79%.

Analyst Ratings Changes

A number of research firms recently weighed in on LMT. TD Cowen upped their price target on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research note on Tuesday, September 3rd. UBS Group upped their price target on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada decreased their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Citigroup boosted their price objective on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $612.29.

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.