Traphagen Investment Advisors LLC Cuts Position in Lockheed Martin Co. (NYSE:LMT)

Traphagen Investment Advisors LLC reduced its position in Lockheed Martin Co. (NYSE:LMT) by 1.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,137 shares of the aerospace company’s stock after selling 26 shares during the quarter. Traphagen Investment Advisors LLC’s holdings in Lockheed Martin were worth $1,249,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LMT. CVA Family Office LLC grew its stake in Lockheed Martin by 1.1% during the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after buying an additional 17 shares during the period. Quad Cities Investment Group LLC boosted its position in Lockheed Martin by 1.2% during the 3rd 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 during the period. HTLF Bank increased its holdings in Lockheed Martin by 3.7% in the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after purchasing an additional 20 shares in the last quarter. tru Independence LLC raised its position in Lockheed Martin by 2.5% in the second quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after purchasing an additional 20 shares during the period. Finally, Sachetta LLC raised its position in Lockheed Martin by 50.0% in the second 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 period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT traded down $32.55 during mid-day trading on Tuesday, hitting $582.06. The stock had a trading volume of 699,639 shares, compared to its average volume of 1,045,324. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The company has a market cap of $139.66 billion, a PE ratio of 21.27, a PEG ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The company’s fifty day simple moving average is $579.45 and its two-hundred day simple moving average is $512.24.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The firm had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.73 earnings per share. On average, equities analysts expect that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a $3.30 dividend. The ex-dividend date is Monday, December 2nd. 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 2.27%. Lockheed Martin’s payout ratio is 48.30%.

Insider Activity at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

LMT has been the subject of a number of recent research reports. Royal Bank of Canada increased their target price on Lockheed Martin from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. TD Cowen raised shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, October 8th. Citigroup boosted their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a report on Tuesday, September 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, four have given 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $599.93.

About Lockheed Martin

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.