iA Global Asset Management Inc. Sells 3,291 Shares of Lockheed Martin Co. (NYSE:LMT)

iA Global Asset Management Inc. lowered its stake in Lockheed Martin Co. (NYSE:LMT) by 75.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,047 shares of the aerospace company’s stock after selling 3,291 shares during the quarter. iA Global Asset Management Inc.’s holdings in Lockheed Martin were worth $476,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Warther Private Wealth LLC raised its holdings in Lockheed Martin by 86.1% in the fourth quarter. Warther Private Wealth LLC now owns 16,369 shares of the aerospace company’s stock worth $7,419,000 after purchasing an additional 7,575 shares in the last quarter. Morningstar Investment Services LLC raised its holdings in Lockheed Martin by 99.6% in the fourth quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock worth $66,697,000 after purchasing an additional 73,774 shares in the last quarter. Cercano Management LLC bought a new position in Lockheed Martin in the fourth quarter worth $29,454,000. Brevan Howard Capital Management LP raised its holdings in Lockheed Martin by 414.2% in the fourth quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock worth $3,228,000 after purchasing an additional 5,736 shares in the last quarter. Finally, New Mexico Educational Retirement Board raised its holdings in Lockheed Martin by 20.5% in the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after purchasing an additional 2,400 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays raised their price target on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday. Royal Bank of Canada raised their price target on Lockheed Martin from $470.00 to $500.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and raised their price target for the company from $540.00 to $600.00 in a report on Friday, July 26th. TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and raised their price target for the company from $480.00 to $560.00 in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group reduced their price target on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $526.77.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Performance

NYSE:LMT traded down $1.49 on Friday, hitting $547.37. The stock had a trading volume of 1,005,098 shares, compared to its average volume of 1,088,929. The business’s 50-day simple moving average is $475.26 and its two-hundred day simple moving average is $456.19. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $561.12. The stock has a market cap of $130.47 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 4.60 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter last year, the company earned $6.73 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, research analysts predict that Lockheed Martin Co. will post 26.71 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a $3.15 dividend. This represents a $12.60 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is currently 46.10%.

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.