First National Bank of Mount Dora Trust Investment Services Sells 69 Shares of Lockheed Martin Co. (NYSE:LMT)

First National Bank of Mount Dora Trust Investment Services cut its position in Lockheed Martin Co. (NYSE:LMT) by 1.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,943 shares of the aerospace company’s stock after selling 69 shares during the period. First National Bank of Mount Dora Trust Investment Services’ holdings in Lockheed Martin were worth $4,059,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LMT. International Assets Investment Management LLC boosted its position in Lockheed Martin by 60,592.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after buying an additional 1,556,609 shares during the period. Wulff Hansen & CO. lifted its holdings in shares of Lockheed Martin by 56,626.7% during the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after purchasing an additional 1,019,281 shares during the period. Capital Research Global Investors lifted its holdings in shares of Lockheed Martin by 29.7% during the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after purchasing an additional 218,506 shares during the period. National Bank of Canada FI grew its stake in shares of Lockheed Martin by 219.3% in the first quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock worth $149,138,000 after purchasing an additional 218,466 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Lockheed Martin by 14.9% in the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after purchasing an additional 180,074 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on LMT shares. Barclays upped their price target on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company boosted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. Finally, Bank of America reissued a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Down 0.0 %

Shares of Lockheed Martin stock traded down $0.02 on Monday, hitting $545.33. The company had a trading volume of 107,850 shares, compared to its average volume of 1,050,982. The stock has a 50 day moving average of $579.25 and a 200-day moving average of $518.86. The stock has a market capitalization of $129.27 billion, a price-to-earnings ratio of 19.74, a P/E/G ratio of 4.47 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95.

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

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.42%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 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.