Reliant Investment Management LLC Cuts Position in Lockheed Martin Co. (NYSE:LMT)

Reliant Investment Management LLC trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,934 shares of the aerospace company’s stock after selling 280 shares during the period. Lockheed Martin makes up approximately 2.5% of Reliant Investment Management LLC’s holdings, making the stock its 24th biggest holding. Reliant Investment Management LLC’s holdings in Lockheed Martin were worth $5,222,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LMT. Mattson Financial Services LLC purchased a new stake in Lockheed Martin during the second quarter valued at $27,000. Sachetta LLC increased its holdings in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. Wiser Advisor Group LLC raised its position in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after buying an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in shares of Lockheed Martin in the 1st quarter valued at about $30,000. Finally, Stephens Consulting LLC grew its position in Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Price Performance

LMT opened at $608.27 on Wednesday. The company has a market capitalization of $145.95 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 4.66 and a beta of 0.47. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $611.59. The business’s fifty day simple moving average is $567.27 and its 200-day simple moving average is $501.20.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same period in the prior year, the business earned $6.73 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities research analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal 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 issued 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 yield of 2.17%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 48.30%.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LMT shares. TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and upped their price objective for the company from $480.00 to $560.00 in a research report on Wednesday, July 24th. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a report on Tuesday, September 3rd. Susquehanna lifted their price objective on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Royal Bank of Canada raised their target price on shares of Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $568.31.

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.