Mirae Asset Global Investments Co. Ltd. Sells 236 Shares of Lockheed Martin Co. (NYSE:LMT)

Mirae Asset Global Investments Co. Ltd. lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 120,513 shares of the aerospace company’s stock after selling 236 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.05% of Lockheed Martin worth $70,182,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in shares of Lockheed Martin by 130.0% in the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after purchasing an additional 2,019 shares during the last quarter. Buck Wealth Strategies LLC bought a new stake in Lockheed Martin in the 2nd quarter worth $6,611,000. McAdam LLC grew its holdings in Lockheed Martin by 101.7% in the 3rd quarter. McAdam LLC now owns 1,178 shares of the aerospace company’s stock worth $689,000 after acquiring an additional 594 shares during the last quarter. Verity & Verity LLC raised its stake in shares of Lockheed Martin by 3.2% during the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock valued at $15,992,000 after acquiring an additional 1,071 shares during the last quarter. Finally, Watts Gwilliam & Co. LLC purchased a new stake in shares of Lockheed Martin during the third quarter worth about $1,096,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LMT has been the topic of a number of research analyst reports. Barclays boosted their price target on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their target price on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Melius upgraded shares of 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. Bank of America restated a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. Finally, Robert W. Baird lifted their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $606.71.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $562.29 on Friday. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The company has a quick ratio of 1.07, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The company has a market capitalization of $134.03 billion, a P/E ratio of 20.36, a PEG ratio of 4.62 and a beta of 0.47. The stock’s 50 day moving average is $580.07 and its 200 day moving average is $514.62.

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 firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $6.77 earnings per share. On average, equities research analysts predict that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. 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.