MetLife Investment Management LLC Sells 1,831 Shares of Lockheed Martin Co. (NYSE:LMT)

MetLife Investment Management LLC cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,300 shares of the aerospace company’s stock after selling 1,831 shares during the period. MetLife Investment Management LLC’s holdings in Lockheed Martin were worth $34,080,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LMT. CVA Family Office LLC grew its holdings in Lockheed Martin by 1.1% during the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after acquiring an additional 17 shares during the last quarter. AllGen Financial Advisors Inc. lifted its holdings in shares of Lockheed Martin by 4.0% during the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after purchasing an additional 18 shares during the period. Salomon & Ludwin LLC grew its stake in shares of Lockheed Martin by 20.5% in the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 18 shares during the last quarter. Sunburst Financial Group LLC increased its holdings in Lockheed Martin by 3.3% in the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after purchasing an additional 18 shares during the period. Finally, Quad Cities Investment Group LLC raised its position in Lockheed Martin by 1.2% during the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after purchasing an additional 19 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Morgan Stanley upped their price target on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Citigroup upped their target price on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. TD Cowen lifted their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Stock Up 0.1 %

LMT stock opened at $522.04 on Wednesday. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The stock has a market cap of $123.74 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 4.27 and a beta of 0.49. 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’s 50 day moving average is $571.19 and its 200 day moving average is $528.54.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the prior year, the firm earned $6.77 earnings per share. Lockheed Martin’s revenue was up 1.3% on a year-over-year basis. Sell-side analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid 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 dividend yield of 2.53%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is 45.62%.

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.