Glenmede Trust Co. NA Sells 275 Shares of Lockheed Martin Co. (NYSE:LMT)

Glenmede Trust Co. NA trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 0.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,475 shares of the aerospace company’s stock after selling 275 shares during the quarter. Glenmede Trust Co. NA’s holdings in Lockheed Martin were worth $18,984,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in shares of Lockheed Martin by 60,592.0% during the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after acquiring an additional 1,556,609 shares in the last quarter. Wulff Hansen & CO. increased its holdings in Lockheed Martin by 56,626.7% during the 2nd 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 in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Lockheed Martin by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock valued at $263,561,000 after purchasing an additional 249,591 shares during the period. FMR LLC lifted its holdings in shares of Lockheed Martin by 6.6% in the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after purchasing an additional 209,591 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Lockheed Martin by 14.9% during the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after buying an additional 180,074 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

NYSE:LMT opened at $525.75 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The stock’s 50 day moving average price is $569.60 and its two-hundred day moving average price is $528.50. The firm has a market capitalization of $124.62 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 4.27 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the firm posted $6.77 EPS. The company’s quarterly revenue was up 1.3% on a year-over-year basis. On average, analysts anticipate 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. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.51%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is 45.62%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Morgan Stanley boosted their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada reduced their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $611.00.

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.