Plimoth Trust Co. LLC Cuts Holdings in Lockheed Martin Co. (NYSE:LMT)

Plimoth Trust Co. LLC lowered its position in Lockheed Martin Co. (NYSE:LMT) by 3.3% in the third quarter, HoldingsChannel reports. The fund owned 4,892 shares of the aerospace company’s stock after selling 166 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Lockheed Martin were worth $2,860,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. CVA Family Office LLC increased its stake 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 valued at $905,000 after purchasing an additional 17 shares during the period. Quad Cities Investment Group LLC grew its holdings in shares of 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 buying an additional 19 shares during the last quarter. HTLF Bank raised its stake in Lockheed Martin by 3.7% during the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after acquiring an additional 20 shares during the last quarter. tru Independence LLC lifted its position in Lockheed Martin by 2.5% during the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock worth $386,000 after acquiring an additional 20 shares during the period. Finally, Sachetta LLC grew its stake in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

Lockheed Martin Trading Up 0.5 %

NYSE LMT traded up $2.80 during trading hours on Monday, hitting $614.61. 1,014,018 shares of the company’s stock were exchanged, compared to its average volume of 1,047,012. The business’s 50 day moving average is $578.29 and its 200-day moving average is $511.11. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The firm has a market capitalization of $147.47 billion, a P/E ratio of 22.45, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same period last year, the company earned $6.73 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, analysts anticipate that Lockheed Martin Co. will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a $3.30 dividend. 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 2.15%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is 48.30%.

Analysts Set New Price Targets

LMT has been the topic of a number of analyst reports. Susquehanna lifted their price objective on shares of Lockheed Martin from $565.00 to $705.00 and gave the company a “positive” rating in a research report on Thursday. Citigroup increased their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. UBS Group lifted their price target on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their target price on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, TD Cowen raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $597.92.

Lockheed Martin Company 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.