FormulaFolio Investments LLC Sells 472 Shares of Lockheed Martin Co. (NYSE:LMT)

Share on StockTwits

FormulaFolio Investments LLC reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,812 shares of the aerospace company’s stock after selling 472 shares during the period. FormulaFolio Investments LLC’s holdings in Lockheed Martin were worth $2,228,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LMT. CX Institutional increased its position in Lockheed Martin by 6.6% during the second quarter. CX Institutional now owns 7,427 shares of the aerospace company’s stock worth $2,710,000 after purchasing an additional 463 shares during the last quarter. ARGI Investment Services LLC raised its stake in shares of Lockheed Martin by 32.6% during the 2nd quarter. ARGI Investment Services LLC now owns 806 shares of the aerospace company’s stock worth $294,000 after purchasing an additional 198 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Lockheed Martin during the 2nd quarter worth about $2,215,000. State of Alaska Department of Revenue raised its stake in shares of Lockheed Martin by 2.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 44,956 shares of the aerospace company’s stock worth $16,405,000 after purchasing an additional 1,191 shares in the last quarter. Finally, Flagship Harbor Advisors LLC raised its stake in shares of Lockheed Martin by 5.6% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 2,475 shares of the aerospace company’s stock worth $948,000 after purchasing an additional 132 shares in the last quarter. Institutional investors own 77.56% of the company’s stock.

LMT stock traded up $0.38 during mid-day trading on Friday, reaching $386.50. 952,117 shares of the company traded hands, compared to its average volume of 1,490,552. The stock has a market cap of $108.04 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 2.29 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.31 and a debt-to-equity ratio of 3.22. Lockheed Martin Co. has a fifty-two week low of $266.11 and a fifty-two week high of $442.53. The firm’s 50 day moving average price is $387.58 and its 200 day moving average price is $379.24.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 21st. The aerospace company reported $5.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.72 by $0.07. Lockheed Martin had a net margin of 10.25% and a return on equity of 182.05%. The business had revenue of $16.22 billion for the quarter, compared to analysts’ expectations of $15.19 billion. During the same quarter in the previous year, the firm posted $5.00 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, analysts anticipate that Lockheed Martin Co. will post 24.52 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $2.60 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.40. The ex-dividend date of this dividend is Monday, November 30th. This represents a $10.40 dividend on an annualized basis and a dividend yield of 2.69%. Lockheed Martin’s dividend payout ratio is presently 43.74%.

A number of research analysts recently weighed in on the company. Argus raised their price objective on Lockheed Martin from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Credit Suisse Group cut their price objective on Lockheed Martin from $433.00 to $400.00 and set a “hold” rating on the stock in a research note on Friday, July 17th. Goldman Sachs Group lowered Lockheed Martin from a “conviction-buy” rating to a “buy” rating in a report on Sunday, September 20th. Morgan Stanley assumed coverage on Lockheed Martin in a report on Tuesday, September 8th. They set an “overweight” rating and a $509.00 price objective on the stock. Finally, Bank of America lifted their price objective on Lockheed Martin from $400.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Lockheed Martin has a consensus rating of “Buy” and a consensus target price of $450.59.

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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space Systems.

Read More: Understanding Specialty Certificates of Deposit

Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Co. (NYSE:LMT).

Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.