Loomis Sayles & Co. L P Trims Stake in Lockheed Martin Co. (NYSE:LMT)

Loomis Sayles & Co. L P reduced its position in Lockheed Martin Co. (NYSE:LMT) by 71.7% during the third quarter, HoldingsChannel.com reports. The firm owned 16,213 shares of the aerospace company’s stock after selling 41,010 shares during the period. Loomis Sayles & Co. L P’s holdings in Lockheed Martin were worth $9,477,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LMT. Mattson Financial Services LLC purchased a new stake in Lockheed Martin in the 2nd quarter worth about $27,000. Sachetta LLC raised its stake in shares of Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares in the last quarter. Stephens Consulting LLC raised its stake in shares of Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 22 shares in the last quarter. Burkett Financial Services LLC bought a new stake in shares of Lockheed Martin during the third quarter valued at approximately $32,000. Finally, Ridgewood Investments LLC bought a new stake in shares of Lockheed Martin during the second quarter valued at approximately $35,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LMT shares. 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 note on Tuesday, October 29th. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note 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 for the company in a research note on Tuesday, September 3rd. Finally, Morgan Stanley lifted their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Trading Up 0.8 %

Shares of Lockheed Martin stock opened at $525.73 on Thursday. The firm has a 50-day simple moving average of $570.39 and a two-hundred day simple moving average of $528.52. The company has a market cap of $124.62 billion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 4.27 and a beta of 0.49. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. 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. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the company earned $6.77 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, equities analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a $3.30 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is currently 45.62%.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.