Lockheed Martin Co. (NYSE:LMT) Shares Sold by Dean Investment Associates LLC

Dean Investment Associates LLC trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 45.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,623 shares of the aerospace company’s stock after selling 4,674 shares during the quarter. Dean Investment Associates LLC’s holdings in Lockheed Martin were worth $3,287,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. CVA Family Office LLC grew its position in Lockheed Martin by 1.1% in the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after acquiring an additional 17 shares during the period. AllGen Financial Advisors Inc. raised its holdings in shares of Lockheed Martin by 4.0% in the 3rd quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after purchasing an additional 18 shares in the last quarter. Salomon & Ludwin LLC lifted its holdings in Lockheed Martin by 20.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after buying an additional 18 shares during the last quarter. Sunburst Financial Group LLC boosted its holdings in Lockheed Martin by 3.3% in the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after purchasing an additional 18 shares in the last quarter. Finally, Quad Cities Investment Group LLC raised its holdings in Lockheed Martin by 1.2% during the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after purchasing an additional 19 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LMT has been the topic of a number of research analyst reports. Robert W. Baird raised their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a report on Tuesday, September 3rd. Citigroup lifted their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, TD Cowen lifted their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Performance

NYSE:LMT opened at $513.03 on Friday. The firm’s fifty day moving average price is $562.51 and its 200 day moving average price is $531.12. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The firm has a market cap of $121.61 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 4.22 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $6.77 EPS. On average, sell-side analysts expect that Lockheed Martin Co. will post 26.94 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is presently 47.79%.

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.