Sit Investment Associates Inc. cut its stake in shares of Lockheed Martin Corp. (NYSE:LMT) by 55.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,298 shares of the company’s stock after selling 102,242 shares during the period. Sit Investment Associates Inc.’s holdings in Lockheed Martin Corp. were worth $20,176,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of LMT. Wellington Management Group LLP increased its position in shares of Lockheed Martin Corp. by 5.9% in the first quarter. Wellington Management Group LLP now owns 10,282,849 shares of the company’s stock valued at $2,277,650,000 after buying an additional 571,953 shares during the period. Bank of Montreal Can acquired a new position in shares of Lockheed Martin Corp. during the second quarter valued at $106,461,000. Artemis Investment Management LLP increased its position in shares of Lockheed Martin Corp. by 22.0% in the second quarter. Artemis Investment Management LLP now owns 1,917,270 shares of the company’s stock valued at $476,046,000 after buying an additional 345,305 shares during the period. Renaissance Technologies LLC increased its position in shares of Lockheed Martin Corp. by 2,490.8% in the first quarter. Renaissance Technologies LLC now owns 336,800 shares of the company’s stock valued at $74,601,000 after buying an additional 323,800 shares during the period. Finally, 1832 Asset Management L.P. increased its position in shares of Lockheed Martin Corp. by 26,128.2% in the first quarter. 1832 Asset Management L.P. now owns 180,450 shares of the company’s stock valued at $67,609,000 after buying an additional 179,762 shares during the period. Institutional investors own 83.79% of the company’s stock.

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

Lockheed Martin Corp. (NYSE:LMT) traded down 0.51% during midday trading on Friday, reaching $233.53. 2,183,925 shares of the company traded hands. The firm’s 50 day moving average price is $243.09 and its 200 day moving average price is $241.57. Lockheed Martin Corp. has a 12 month low of $200.47 and a 12 month high of $266.93. The firm has a market capitalization of $70.74 billion, a price-to-earnings ratio of 19.45 and a beta of 0.59.

Lockheed Martin Corp. (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $3.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.93 by $0.39. Lockheed Martin Corp. had a net margin of 7.37% and a return on equity of 119.66%. The company had revenue of $12.90 billion for the quarter, compared to analyst estimates of $12.56 billion. During the same quarter in the prior year, the business posted $2.94 EPS. On average, analysts expect that Lockheed Martin Corp. will post $11.75 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 1st will be paid a dividend of $1.82 per share. This is a positive change from Lockheed Martin Corp.’s previous quarterly dividend of $1.65. The ex-dividend date is Tuesday, November 29th. This represents a $7.28 annualized dividend and a dividend yield of 3.12%. Lockheed Martin Corp.’s dividend payout ratio is 56.51%.

Several analysts have recently issued reports on the stock. Barclays PLC reissued an “underweight” rating and set a $245.00 price objective (down from $250.00) on shares of Lockheed Martin Corp. in a research note on Monday. Zacks Investment Research cut shares of Lockheed Martin Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. Citigroup Inc. reissued a “buy” rating and set a $284.00 price objective (up from $239.00) on shares of Lockheed Martin Corp. in a research note on Tuesday, September 6th. Vetr cut shares of Lockheed Martin Corp. from a “buy” rating to a “hold” rating and set a $255.00 price objective for the company. in a research note on Monday, July 4th. Finally, Argus reissued a “buy” rating and set a $290.00 price objective on shares of Lockheed Martin Corp. in a research note on Friday, August 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $259.77.

In other news, insider Orlando D. Carvalho sold 12,700 shares of the stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $254.78, for a total transaction of $3,235,706.00. Following the transaction, the insider now owns 29,120 shares in the company, valued at approximately $7,419,193.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sondra L. Barbour sold 66,460 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $255.74, for a total transaction of $16,996,480.40. Following the transaction, the insider now owns 31,200 shares in the company, valued at approximately $7,979,088. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

About Lockheed Martin Corp.

Lockheed Martin Corporation is a global security and aerospace company. The Company is engaged in the research, design, integration and sustainment of advanced technology systems, products and services. It operates in five segments: Aeronautics; Information Systems & Global Solutions (IS&GS); Missiles and Fire Control (MFC); Mission Systems and Training (MST), and Space Systems.

5 Day Chart for NYSE:LMT

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