Charles Schwab Investment Management Inc. Trims Stake in Lockheed Martin Co. (NYSE:LMT)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 6.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,338,610 shares of the aerospace company’s stock after selling 466,215 shares during the quarter. Lockheed Martin makes up approximately 0.7% of Charles Schwab Investment Management Inc.’s investment portfolio, making the stock its 27th biggest holding. Charles Schwab Investment Management Inc. owned about 2.67% of Lockheed Martin worth $3,705,199,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Wellington Wealth Strategies LLC. acquired a new stake in shares of Lockheed Martin during the 1st quarter valued at about $271,000. Axxcess Wealth Management LLC grew its holdings in Lockheed Martin by 3.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 9,412 shares of the aerospace company’s stock valued at $4,281,000 after buying an additional 276 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after acquiring an additional 218,506 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Lockheed Martin by 7.4% in the first quarter. Canada Pension Plan Investment Board now owns 324,493 shares of the aerospace company’s stock valued at $147,602,000 after purchasing an additional 22,293 shares during the period. Finally, Stonebridge Capital Advisors LLC boosted its holdings in Lockheed Martin by 9.3% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 714 shares of the aerospace company’s stock valued at $325,000 after purchasing an additional 61 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of recent analyst reports. Barclays lifted their price target on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Robert W. Baird lifted their target price on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research note on Tuesday, September 3rd. Citigroup boosted their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Susquehanna cut their price target on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Price Performance

Shares of LMT opened at $535.08 on Thursday. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The firm has a market capitalization of $126.84 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 4.36 and a beta of 0.49. The stock’s fifty day moving average is $574.19 and its 200-day moving average is $526.27. 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 released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $6.77 EPS. Equities analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.47%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is 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.