Lockheed Martin Co. (NYSE:LMT) Stock Holdings Lessened by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP reduced its holdings in Lockheed Martin Co. (NYSE:LMT) by 9.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,953 shares of the aerospace company’s stock after selling 509 shares during the period. Klingenstein Fields & Co. LP’s holdings in Lockheed Martin were worth $2,896,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Mattson Financial Services LLC bought a new stake in Lockheed Martin in the 2nd quarter valued at about $27,000. Sachetta LLC lifted its position in 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. Wiser Advisor Group LLC lifted 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 valued at $29,000 after purchasing an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Lockheed Martin in the 1st quarter valued at about $30,000. Finally, Stephens Consulting LLC lifted 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 valued at $31,000 after purchasing an additional 22 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LMT. Morgan Stanley lifted their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Barclays lifted their price objective on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Susquehanna lowered their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday, October 23rd. Wells Fargo & Company raised 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 note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. One investment 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Performance

Shares of LMT opened at $545.90 on Monday. The firm’s 50 day moving average is $579.25 and its 200-day moving average is $518.86. The stock has a market capitalization of $129.40 billion, a P/E ratio of 19.74, a P/E/G ratio of 4.47 and a beta of 0.49. 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 Co. has a 12-month low of $413.92 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data 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 company had revenue of $17.10 billion for 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 business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.77 EPS. Equities research analysts anticipate that Lockheed Martin Co. will post 26.89 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. Stockholders of record on Monday, December 2nd will be given a $3.30 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is 45.62%.

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.