Lockheed Martin Co. (NYSE:LMT) Holdings Trimmed by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC reduced its position in shares of Lockheed Martin Co. (NYSE:LMT) by 5.5% during the third quarter, Holdings Channel.com reports. The fund owned 1,772 shares of the aerospace company’s stock after selling 104 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Lockheed Martin were worth $1,036,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Lockheed Martin by 130.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after acquiring an additional 2,019 shares during the last quarter. Buck Wealth Strategies LLC purchased a new stake in shares of Lockheed Martin during the second quarter valued at $6,611,000. Old West Investment Management LLC boosted its position in shares of Lockheed Martin by 6.6% in the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after purchasing an additional 1,643 shares during the period. Financial Enhancement Group LLC increased its stake in Lockheed Martin by 2,268.3% in the 3rd quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock worth $6,105,000 after purchasing an additional 10,003 shares in the last quarter. Finally, McAdam LLC raised its holdings in Lockheed Martin by 101.7% during the 3rd quarter. McAdam LLC now owns 1,178 shares of the aerospace company’s stock worth $689,000 after buying an additional 594 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Up 2.3 %

LMT stock opened at $564.56 on Friday. The stock has a market capitalization of $133.82 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 4.51 and a beta of 0.49. The company has a 50-day moving average of $578.06 and a two-hundred day moving average of $521.21. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week 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.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the prior year, the business earned $6.77 earnings per share. Lockheed Martin’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current 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 dividend of $3.30 per share. 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 2.34%. Lockheed Martin’s dividend payout ratio (DPR) is 47.79%.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of recent analyst reports. Susquehanna reduced their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. Robert W. Baird increased their target price on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. UBS Group increased their price objective on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Citigroup lifted their target price on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. 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. Based on data from MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $611.00.

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.