Oppenheimer & Co. Inc. Sells 1,551 Shares of Lockheed Martin Co. (NYSE:LMT)

Oppenheimer & Co. Inc. lowered its position in Lockheed Martin Co. (NYSE:LMT) by 4.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,117 shares of the aerospace company’s stock after selling 1,551 shares during the period. Oppenheimer & Co. Inc.’s holdings in Lockheed Martin were worth $21,113,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. CVA Family Office LLC increased its position 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 last quarter. AllGen Financial Advisors Inc. increased its position in Lockheed Martin by 4.0% during the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after buying an additional 18 shares during the last quarter. Salomon & Ludwin LLC increased its position in Lockheed Martin by 20.5% during the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after buying an additional 18 shares during the last quarter. Sunburst Financial Group LLC increased its position in Lockheed Martin by 3.3% during the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after buying an additional 18 shares during the last quarter. Finally, Quad Cities Investment Group LLC boosted its holdings in shares of Lockheed Martin by 1.2% during the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after acquiring an additional 19 shares during the period. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

NYSE LMT traded down $6.40 on Wednesday, hitting $559.56. 139,799 shares of the company’s stock were exchanged, compared to its average volume of 1,051,421. The stock has a 50-day moving average of $578.09 and a 200-day moving average of $523.56. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The stock has a market cap of $132.64 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 4.67 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the prior year, the company earned $6.77 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. Analysts expect 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. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.36%. Lockheed Martin’s dividend payout ratio is presently 45.62%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Barclays boosted their price objective on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. UBS Group boosted their price objective on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Citigroup boosted their price objective on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One equities 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

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.