Zions Bancorporation N.A. Sells 26 Shares of Lockheed Martin Co. (NYSE:LMT)

Zions Bancorporation N.A. lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 16.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 137 shares of the aerospace company’s stock after selling 26 shares during the period. Zions Bancorporation N.A.’s holdings in Lockheed Martin were worth $80,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. TIAA Trust National Association boosted its holdings in Lockheed Martin by 3.5% in the first quarter. TIAA Trust National Association now owns 9,811 shares of the aerospace company’s stock valued at $4,463,000 after purchasing an additional 334 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new position in shares of Lockheed Martin during the 1st quarter valued at approximately $2,325,000. Catalytic Wealth RIA LLC raised its position in Lockheed Martin by 3.1% during the first quarter. Catalytic Wealth RIA LLC now owns 1,021 shares of the aerospace company’s stock worth $464,000 after acquiring an additional 31 shares during the period. Ironwood Investment Counsel LLC raised its holdings in shares of Lockheed Martin by 2.3% during the first quarter. Ironwood Investment Counsel LLC now owns 14,466 shares of the aerospace company’s stock valued at $6,580,000 after acquiring an additional 325 shares during the last quarter. Finally, Cynosure Group LLC acquired a new stake in Lockheed Martin during the 1st quarter worth $340,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 0.8 %

Shares of NYSE LMT opened at $534.82 on Friday. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The stock’s 50-day simple moving average is $577.16 and its 200-day simple moving average is $523.91. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The firm has a market cap of $126.77 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 4.56 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period in the prior year, the company posted $6.77 EPS. The business’s revenue was up 1.3% compared to the same quarter last year. As a group, equities analysts anticipate that Lockheed Martin Co. will post 26.89 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. Investors of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.47%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Susquehanna cut their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. Citigroup boosted their target price on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Bank of America reiterated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. Finally, Wells Fargo & Company upped their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

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.