Nachman Norwood & Parrott Inc trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT) by 2.6% in the 3rd quarter, Holdings Channel reports. The firm owned 1,513 shares of the aerospace company’s stock after selling 41 shares during the period. Nachman Norwood & Parrott Inc’s holdings in Lockheed Martin were worth $579,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bruderman Asset Management LLC lifted its stake in shares of Lockheed Martin by 19.0% in the third quarter. Bruderman Asset Management LLC now owns 16,547 shares of the aerospace company’s stock worth $6,342,000 after acquiring an additional 2,639 shares in the last quarter. Alpha Cubed Investments LLC grew its holdings in shares of Lockheed Martin by 6.2% during the third quarter. Alpha Cubed Investments LLC now owns 59,213 shares of the aerospace company’s stock valued at $22,695,000 after purchasing an additional 3,474 shares during the last quarter. Investors Financial Group LLC bought a new position in shares of Lockheed Martin during the third quarter valued at approximately $202,000. Avantax Advisory Services Inc. grew its holdings in shares of Lockheed Martin by 168.4% during the third quarter. Avantax Advisory Services Inc. now owns 31,753 shares of the aerospace company’s stock valued at $12,173,000 after purchasing an additional 19,921 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. grew its holdings in Lockheed Martin by 3.8% in the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 2,833 shares of the aerospace company’s stock worth $1,086,000 after buying an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 77.56% of the company’s stock.
LMT opened at $386.50 on Friday. The stock has a fifty day moving average of $387.58 and a 200-day moving average of $379.24. The firm has a market capitalization of $108.04 billion, a P/E ratio of 16.94, a PEG ratio of 2.29 and a beta of 0.95. Lockheed Martin Co. has a 12-month low of $266.11 and a 12-month high of $442.53. The company has a quick ratio of 1.08, a current ratio of 1.31 and a debt-to-equity ratio of 3.22.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 21st. The aerospace company reported $5.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.72 by $0.07. Lockheed Martin had a net margin of 10.25% and a return on equity of 182.05%. The business had revenue of $16.22 billion for the quarter, compared to the consensus estimate of $15.19 billion. During the same period in the prior year, the business posted $5.00 earnings per share. Lockheed Martin’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, analysts expect that Lockheed Martin Co. will post 24.52 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Tuesday, December 1st will be paid a $2.60 dividend. The ex-dividend date of this dividend is Monday, November 30th. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.40. This represents a $10.40 dividend on an annualized basis and a dividend yield of 2.69%. Lockheed Martin’s dividend payout ratio is 43.74%.
A number of brokerages have issued reports on LMT. Credit Suisse Group decreased their price target on Lockheed Martin from $433.00 to $400.00 and set a “hold” rating for the company in a research note on Friday, July 17th. Morgan Stanley assumed coverage on Lockheed Martin in a research report on Tuesday, September 8th. They set an “overweight” rating and a $509.00 price objective for the company. Bank of America increased their price objective on Lockheed Martin from $400.00 to $500.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Royal Bank of Canada cut their price objective on Lockheed Martin from $410.00 to $404.00 in a research report on Friday, July 17th. Finally, Goldman Sachs Group downgraded Lockheed Martin from a “conviction-buy” rating to a “buy” rating in a research report on Sunday, September 20th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $450.59.
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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space Systems.
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