Lockheed Martin Co. (NYSE:LMT) Stock Position Trimmed by Strategy Asset Managers LLC

Strategy Asset Managers LLC trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 11.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 24,701 shares of the aerospace company’s stock after selling 3,241 shares during the quarter. Lockheed Martin makes up about 2.8% of Strategy Asset Managers LLC’s portfolio, making the stock its 5th largest position. Strategy Asset Managers LLC’s holdings in Lockheed Martin were worth $14,439,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of LMT. Mattson Financial Services LLC purchased a new position in Lockheed Martin during the 2nd quarter worth approximately $27,000. Sachetta LLC lifted its position in Lockheed Martin by 50.0% during the second 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 period. Wiser Advisor Group LLC boosted its holdings in Lockheed Martin by 65.8% in the first 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. Stephens Consulting LLC raised its stake in shares of Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after buying an additional 22 shares during the last quarter. Finally, Burkett Financial Services LLC acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at about $32,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Price Performance

LMT stock opened at $533.25 on Wednesday. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The firm has a market capitalization of $126.40 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 4.37 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 $574.83 and a 200-day simple moving average of $526.21.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results 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. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the previous year, the firm earned $6.77 EPS. The business’s revenue was up 1.3% on a year-over-year basis. Equities research analysts anticipate 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 paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost 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 2.48%. Lockheed Martin’s payout ratio is presently 45.62%.

Analysts Set New Price Targets

A number of brokerages have issued reports on LMT. Morgan Stanley boosted their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Barclays upped their price objective on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Citigroup upped their price target on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $611.00.

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.