Patten & Patten Inc. TN Sells 158 Shares of Lockheed Martin Co. (NYSE:LMT)

Patten & Patten Inc. TN decreased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,015 shares of the aerospace company’s stock after selling 158 shares during the period. Patten & Patten Inc. TN’s holdings in Lockheed Martin were worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of LMT. Mattson Financial Services LLC bought a new position in Lockheed Martin in the 2nd quarter worth $27,000. Sachetta LLC raised its position in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after buying an additional 20 shares in the last quarter. Wiser Advisor Group LLC raised its position in Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in Lockheed Martin in the 1st quarter worth about $30,000. Finally, Stephens Consulting LLC raised its position in Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the period. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on LMT. JPMorgan Chase & Co. upped their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Royal Bank of Canada decreased their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company increased their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Finally, TD Cowen increased their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Trading Up 1.1 %

Shares of Lockheed Martin stock opened at $570.58 on Tuesday. 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 fifty day moving average price of $578.06 and a 200 day moving average price of $522.08. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The stock has a market cap of $135.25 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 4.62 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $6.77 earnings per share. Equities research analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently declared 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. This represents a $13.20 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

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.