Northwest Bancshares Inc. Reduces Holdings in Lockheed Martin Co. (NYSE:LMT)

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Northwest Bancshares Inc. reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 7.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,171 shares of the aerospace company’s stock after selling 164 shares during the period. Northwest Bancshares Inc.’s holdings in Lockheed Martin were worth $832,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Bank of America Corp DE grew its holdings in Lockheed Martin by 6.1% in the 2nd quarter. Bank of America Corp DE now owns 9,017,771 shares of the aerospace company’s stock valued at $3,290,766,000 after buying an additional 519,019 shares in the last quarter. FMR LLC grew its holdings in Lockheed Martin by 42.0% in the 2nd quarter. FMR LLC now owns 3,368,655 shares of the aerospace company’s stock valued at $1,229,291,000 after buying an additional 995,998 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Lockheed Martin by 11.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,360,935 shares of the aerospace company’s stock valued at $861,553,000 after buying an additional 241,810 shares in the last quarter. California Public Employees Retirement System grew its holdings in Lockheed Martin by 3.9% in the 2nd quarter. California Public Employees Retirement System now owns 1,225,578 shares of the aerospace company’s stock valued at $447,238,000 after buying an additional 46,212 shares in the last quarter. Finally, Bahl & Gaynor Inc. grew its holdings in Lockheed Martin by 1.7% in the 1st quarter. Bahl & Gaynor Inc. now owns 966,085 shares of the aerospace company’s stock valued at $327,455,000 after buying an additional 16,199 shares in the last quarter. Institutional investors own 77.56% of the company’s stock.

LMT traded up $3.82 during mid-day trading on Friday, hitting $372.78. 19,566 shares of the stock were exchanged, compared to its average volume of 1,491,469. The firm’s fifty day moving average is $386.06 and its two-hundred day moving average is $380.26. Lockheed Martin Co. has a 1-year low of $266.11 and a 1-year high of $442.53. The company has a current ratio of 1.31, a quick ratio of 1.08 and a debt-to-equity ratio of 3.22. The company has a market cap of $103.14 billion, a PE ratio of 16.17, a PEG ratio of 2.28 and a beta of 0.95.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 20th. The aerospace company reported $6.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.07 by $0.18. The firm had revenue of $16.50 billion for the quarter, compared to analyst estimates of $16.14 billion. Lockheed Martin had a return on equity of 182.05% and a net margin of 10.25%. Lockheed Martin’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.66 EPS. As a group, research analysts anticipate that Lockheed Martin Co. will post 24.52 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Shareholders of record on Tuesday, December 1st will be given a $2.60 dividend. The ex-dividend date is Monday, November 30th. This represents a $10.40 dividend on an annualized basis and a yield of 2.79%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.40. Lockheed Martin’s dividend payout ratio (DPR) is currently 43.74%.

Several analysts have issued reports on the company. Argus upped their target price on Lockheed Martin from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, July 24th. Morgan Stanley started coverage on Lockheed Martin in a report on Tuesday, September 8th. They set an “overweight” rating and a $509.00 price target for the company. Goldman Sachs Group cut Lockheed Martin from a “conviction-buy” rating to a “buy” rating in a report on Sunday, September 20th. Royal Bank of Canada increased their price target on Lockheed Martin from $405.00 to $414.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, Bank of America increased their price target on Lockheed Martin from $400.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $451.18.

Lockheed Martin Company 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.

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

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