Lockheed Martin Co. (NYSE:LMT) Stock Position Lowered by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT) by 75.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 493 shares of the aerospace company’s stock after selling 1,483 shares during the period. Lake Street Private Wealth LLC’s holdings in Lockheed Martin were worth $288,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in LMT. GAMMA Investing LLC raised its position in Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after buying an additional 2,019 shares during the period. Buck Wealth Strategies LLC purchased a new position in Lockheed Martin during the 2nd quarter valued at about $6,611,000. Verity & Verity LLC increased its holdings in shares of Lockheed Martin by 3.2% in the 2nd quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock valued at $15,992,000 after purchasing an additional 1,071 shares during the period. Watts Gwilliam & Co. LLC acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at about $1,096,000. Finally, New Mexico Educational Retirement Board lifted its position in shares of Lockheed Martin by 20.5% in the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after purchasing an additional 2,400 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Trading Down 1.0 %

Shares of NYSE:LMT opened at $571.10 on Thursday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock’s 50-day moving average is $579.95 and its 200-day moving average is $513.50. The company has a market cap of $137.03 billion, a P/E ratio of 20.90, a P/E/G ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter last year, the firm posted $6.77 EPS. The company’s revenue was up 1.3% on a year-over-year basis. Equities research analysts predict that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.31%. Lockheed Martin’s dividend payout ratio is 48.30%.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Robert W. Baird increased their price objective on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Citigroup upped their target price on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Susquehanna lowered their price target on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $606.71.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.