Lockheed Martin Co. (NYSE:LMT) Shares Sold by Voya Financial Advisors Inc.

Voya Financial Advisors Inc. lessened its position in Lockheed Martin Co. (NYSE:LMT) by 8.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,636 shares of the aerospace company’s stock after selling 618 shares during the period. Lockheed Martin makes up 0.4% of Voya Financial Advisors Inc.’s investment portfolio, making the stock its 21st largest holding. Voya Financial Advisors Inc.’s holdings in Lockheed Martin were worth $3,864,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in LMT. Wellington Management Group LLP lifted its stake in shares of Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after purchasing an additional 240,306 shares during the period. Worldquant Millennium Advisors LLC lifted its stake in shares of Lockheed Martin by 11.7% in the third quarter. Worldquant Millennium Advisors LLC now owns 142,259 shares of the aerospace company’s stock valued at $83,159,000 after purchasing an additional 14,887 shares during the period. Swmg LLC lifted its stake in shares of Lockheed Martin by 37.6% in the third quarter. Swmg LLC now owns 5,642 shares of the aerospace company’s stock valued at $3,147,000 after purchasing an additional 1,543 shares during the period. SYM FINANCIAL Corp acquired a new stake in shares of Lockheed Martin in the third quarter valued at about $240,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in shares of Lockheed Martin in the third quarter valued at about $92,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on LMT shares. Citigroup raised their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. raised their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Susquehanna dropped their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a 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, Royal Bank of Canada lowered their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $517.40 on Friday. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The firm has a 50 day moving average price of $563.89 and a 200 day moving average price of $530.36. The company has a market cap of $122.64 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 4.22 and a beta of 0.46. 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 (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $6.77 earnings per share. Sell-side analysts predict that Lockheed Martin Co. will post 26.94 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.55%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is 47.79%.

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.