Joel Isaacson & Co. LLC Sells 55 Shares of Lockheed Martin Co. (NYSE:LMT)

Joel Isaacson & Co. LLC decreased its holdings in Lockheed Martin Co. (NYSE:LMT) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 953 shares of the aerospace company’s stock after selling 55 shares during the period. Joel Isaacson & Co. LLC’s holdings in Lockheed Martin were worth $557,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bank of Stockton bought a new stake in shares of Lockheed Martin in the 3rd quarter valued at approximately $372,000. Tandem Capital Management Corp ADV lifted its position in Lockheed Martin by 5.3% in the third quarter. Tandem Capital Management Corp ADV now owns 1,011 shares of the aerospace company’s stock worth $591,000 after buying an additional 51 shares during the last quarter. Canal Capital Management LLC boosted its stake in Lockheed Martin by 3.5% during the third quarter. Canal Capital Management LLC now owns 15,425 shares of the aerospace company’s stock worth $9,017,000 after buying an additional 527 shares during the period. Ballentine Partners LLC increased its position in Lockheed Martin by 4.9% during the third quarter. Ballentine Partners LLC now owns 3,772 shares of the aerospace company’s stock valued at $2,205,000 after acquiring an additional 176 shares during the last quarter. Finally, Financial Partners Group LLC raised its stake in shares of Lockheed Martin by 8.0% in the third quarter. Financial Partners Group LLC now owns 19,798 shares of the aerospace company’s stock valued at $11,573,000 after acquiring an additional 1,472 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.3 %

Shares of NYSE LMT opened at $562.29 on Friday. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The business has a fifty day moving average price of $580.07 and a 200 day moving average price of $515.08. The stock has a market capitalization of $134.03 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 4.62 and a beta of 0.47. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.07.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business earned $6.77 EPS. Equities research analysts expect that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 45.62%.

Analyst Ratings Changes

Several brokerages recently commented on LMT. Wells Fargo & Company upped their price target 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. TD Cowen upped their target price on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley raised their price target on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. UBS Group upped their price objective on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Robert W. Baird boosted their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $606.71.

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.