GW&K Investment Management LLC Lowers Stake in Lockheed Martin Co. (NYSE:LMT)


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GW&K Investment Management LLC cut its position in Lockheed Martin Co. (NYSE:LMT) by 1.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 122,323 shares of the aerospace company’s stock after selling 1,285 shares during the period. GW&K Investment Management LLC’s holdings in Lockheed Martin were worth $46,884,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Simon Quick Advisors LLC purchased a new position in Lockheed Martin during the third quarter valued at $32,000. Barnett & Company Inc. bought a new stake in Lockheed Martin during the third quarter valued at about $38,000. Proffitt & Goodson Inc. increased its holdings in shares of Lockheed Martin by 58.2% in the second quarter. Proffitt & Goodson Inc. now owns 106 shares of the aerospace company’s stock worth $39,000 after purchasing an additional 39 shares during the last quarter. Lenox Wealth Advisors LLC increased its stake in Lockheed Martin by 140.5% during the third quarter. Lenox Wealth Advisors LLC now owns 101 shares of the aerospace company’s stock worth $39,000 after acquiring an additional 59 shares during the last quarter. Finally, Hoover Financial Advisors Inc. purchased a new position in shares of Lockheed Martin during the second quarter valued at approximately $45,000. 77.56% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently commented on LMT shares. Argus lifted their target price on Lockheed Martin from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Royal Bank of Canada lifted their target price on Lockheed Martin from $405.00 to $414.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 21st. Morgan Stanley started coverage on Lockheed Martin in a report on Tuesday, September 8th. They issued an “overweight” rating and a $509.00 price target for the company. ValuEngine downgraded Lockheed Martin from a “hold” rating to a “sell” rating in a report on Wednesday, October 21st. Finally, The Goldman Sachs Group downgraded Lockheed Martin from a “conviction-buy” rating to a “buy” rating in a report on Sunday, September 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $451.18.

NYSE:LMT traded down $8.44 during mid-day trading on Friday, hitting $368.02. 1,117,931 shares of the stock were exchanged, compared to its average volume of 1,481,057. The stock has a market capitalization of $102.97 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 2.27 and a beta of 0.98. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.12 and a current ratio of 1.33. The firm’s 50-day simple moving average is $373.35 and its 200 day simple moving average is $378.63. Lockheed Martin Co. has a fifty-two week low of $266.11 and a fifty-two week high of $442.53.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 20th. The aerospace company reported $6.25 earnings per share for the quarter, topping analysts’ consensus estimates of $6.07 by $0.18. The business had revenue of $16.50 billion for the quarter, compared to analyst estimates of $16.14 billion. Lockheed Martin had a return on equity of 173.43% and a net margin of 10.18%. Lockheed Martin’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.66 EPS. On average, analysts predict that Lockheed Martin Co. will post 24.7 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Investors of record on Tuesday, December 1st will be given a $2.60 dividend. This represents a $10.40 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Monday, November 30th. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.40. Lockheed Martin’s dividend payout ratio (DPR) is presently 43.74%.

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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space Systems.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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