Lake Street Advisors Group LLC Has $2.14 Million Stake in Lockheed Martin Co. (NYSE:LMT)

Lake Street Advisors Group LLC reduced its holdings in Lockheed Martin Co. (NYSE:LMT) by 45.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,666 shares of the aerospace company’s stock after selling 3,088 shares during the period. Lake Street Advisors Group LLC’s holdings in Lockheed Martin were worth $2,143,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Lockheed Martin by 130.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after purchasing an additional 2,019 shares during the last quarter. Buck Wealth Strategies LLC acquired a new position in Lockheed Martin in the second quarter valued at about $6,611,000. Verity & Verity LLC boosted its holdings in Lockheed Martin by 3.2% during the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock worth $15,992,000 after buying an additional 1,071 shares during the last quarter. Watts Gwilliam & Co. LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter worth about $1,096,000. Finally, New Mexico Educational Retirement Board increased its stake in shares of Lockheed Martin by 20.5% in the 1st quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock valued at $6,222,000 after acquiring an additional 2,400 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LMT. JPMorgan Chase & Co. lifted their price objective 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. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday. TD Cowen raised their price objective on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays lifted their target price on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus target price of $606.71.

Lockheed Martin Stock Performance

Shares of LMT stock traded up $0.09 on Friday, reaching $564.30. The stock had a trading volume of 168,284 shares, compared to its average volume of 1,050,621. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. 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 firm has a market capitalization of $135.40 billion, a price-to-earnings ratio of 20.64, a P/E/G ratio of 4.84 and a beta of 0.47. The firm’s 50-day moving average is $579.95 and its two-hundred day moving average is $513.50.

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. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the previous year, the company posted $6.77 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, research analysts expect that Lockheed Martin Co. will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.34%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is 48.30%.

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.