Valley Wealth Managers Inc. Sells 187 Shares of Lockheed Martin Co. (NYSE:LMT)

Valley Wealth Managers Inc. lowered its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 2.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 7,989 shares of the aerospace company’s stock after selling 187 shares during the period. Valley Wealth Managers Inc.’s holdings in Lockheed Martin were worth $4,670,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Mattson Financial Services LLC bought a new position in Lockheed Martin during the 2nd quarter worth $27,000. Sachetta LLC increased its stake in shares of 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 buying an additional 20 shares during the period. Wiser Advisor Group LLC raised its position in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 25 shares during the last quarter. Stephens Consulting LLC lifted its stake in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares during the period. Finally, Burkett Financial Services LLC acquired a new position in shares of Lockheed Martin in the third quarter worth approximately $32,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Citigroup boosted their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research report on Tuesday, September 3rd. Robert W. Baird upped their target price on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Finally, Melius Research raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Stock Performance

Shares of LMT traded down $2.14 during trading hours on Friday, hitting $536.85. The company’s stock had a trading volume of 163,778 shares, compared to its average volume of 1,056,239. The company has a market cap of $127.25 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 4.56 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. The business has a 50 day simple moving average of $577.16 and a two-hundred day simple moving average of $523.91. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same period last year, the business earned $6.77 earnings per share. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. On average, equities analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently disclosed 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 a positive change 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 2.46%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is 45.62%.

Lockheed Martin 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.