Whittier Trust Co. Has $3.79 Million Stake in Lockheed Martin Co. (NYSE:LMT)

Whittier Trust Co. reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,490 shares of the aerospace company’s stock after selling 89 shares during the quarter. Whittier Trust Co.’s holdings in Lockheed Martin were worth $3,794,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in shares of Lockheed Martin by 130.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after acquiring an additional 2,019 shares in the last quarter. Buck Wealth Strategies LLC purchased a new position in Lockheed Martin in the second quarter valued at about $6,611,000. Verity & Verity LLC increased its position in Lockheed Martin by 3.2% in the 2nd quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock worth $15,992,000 after purchasing an additional 1,071 shares during the last quarter. Watts Gwilliam & Co. LLC purchased a new stake in shares of Lockheed Martin during the 3rd quarter worth about $1,096,000. Finally, New Mexico Educational Retirement Board lifted its holdings in shares of Lockheed Martin by 20.5% during the 1st quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock valued at $6,222,000 after buying an additional 2,400 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Susquehanna lifted their price objective on shares of Lockheed Martin from $565.00 to $705.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. increased their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. UBS Group boosted their price target on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $597.92.

Lockheed Martin Stock Performance

NYSE:LMT opened at $614.69 on Tuesday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The firm’s 50-day moving average is $579.45 and its 200-day moving average is $512.24. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The company has a market cap of $147.49 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same period in the previous year, the company posted $6.73 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.15%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 48.30%.

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.