1834 Investment Advisors Co. Sells 786 Shares of Lockheed Martin Co. (NYSE:LMT)

1834 Investment Advisors Co. lessened its holdings in Lockheed Martin Co. (NYSE:LMT) by 4.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,012 shares of the aerospace company’s stock after selling 786 shares during the period. Lockheed Martin accounts for approximately 1.1% of 1834 Investment Advisors Co.’s portfolio, making the stock its 19th largest holding. 1834 Investment Advisors Co.’s holdings in Lockheed Martin were worth $9,360,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Catalina Capital Group LLC grew its holdings in shares of Lockheed Martin by 6.2% during the third quarter. Catalina Capital Group LLC now owns 1,191 shares of the aerospace company’s stock worth $696,000 after purchasing an additional 70 shares in the last quarter. JFG Wealth Management LLC bought a new position in Lockheed Martin in the third quarter valued at $234,000. Fiduciary Family Office LLC purchased a new stake in Lockheed Martin during the third quarter valued at about $580,000. Cornerstone Capital Inc. lifted its stake in Lockheed Martin by 2.6% during the third quarter. Cornerstone Capital Inc. now owns 1,662 shares of the aerospace company’s stock worth $972,000 after purchasing an additional 42 shares during the last quarter. Finally, Falcon Wealth Planning increased its position in shares of Lockheed Martin by 4.2% during the 3rd quarter. Falcon Wealth Planning now owns 689 shares of the aerospace company’s stock valued at $403,000 after purchasing an additional 28 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LMT shares. Barclays upped their target price on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Susquehanna reduced their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada lowered their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Price Performance

NYSE LMT opened at $546.65 on Wednesday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The business’s fifty day moving average is $578.67 and its 200 day moving average is $520.06. The company has a market capitalization of $129.58 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 4.46 and a beta of 0.49. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week 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, beating analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $6.77 EPS. Sell-side analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced 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 an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.41%. Lockheed Martin’s payout ratio is 47.79%.

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.