Lockheed Martin Co. (NYSE:LMT) Holdings Decreased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC reduced its holdings in Lockheed Martin Co. (NYSE:LMT) by 8.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,296 shares of the aerospace company’s stock after selling 115 shares during the period. Pallas Capital Advisors LLC’s holdings in Lockheed Martin were worth $731,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of LMT. Stokes Family Office LLC acquired a new position in Lockheed Martin in the 1st quarter valued at approximately $425,000. Cornerstone Wealth Management LLC increased its stake in shares of Lockheed Martin by 23.9% in the first quarter. Cornerstone Wealth Management LLC now owns 2,627 shares of the aerospace company’s stock worth $1,195,000 after acquiring an additional 507 shares during the last quarter. Legacy Wealth Asset Management LLC raised its holdings in shares of Lockheed Martin by 2.6% during the first quarter. Legacy Wealth Asset Management LLC now owns 1,595 shares of the aerospace company’s stock worth $726,000 after acquiring an additional 40 shares in the last quarter. Tempus Wealth Planning LLC boosted its position in Lockheed Martin by 11.2% during the first quarter. Tempus Wealth Planning LLC now owns 693 shares of the aerospace company’s stock valued at $315,000 after purchasing an additional 70 shares during the last quarter. Finally, New Century Financial Group LLC purchased a new position in Lockheed Martin in the first quarter valued at about $205,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

LMT opened at $545.98 on Thursday. 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 stock’s 50 day moving average price is $579.65 and its two-hundred day moving average price is $517.13. The firm has a market capitalization of $131.00 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 4.62 and a beta of 0.47. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the company posted $6.77 earnings per share. Lockheed Martin’s quarterly revenue was up 1.3% on a year-over-year basis. On average, equities analysts forecast that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business 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 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is presently 48.30%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a report on Tuesday, September 3rd. JPMorgan Chase & Co. lifted their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada reduced their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Susquehanna lowered their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin 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.