Cypress Capital Group Has $19.65 Million Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Cypress Capital Group lessened its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 33,607 shares of the aerospace company’s stock after selling 372 shares during the period. Lockheed Martin makes up 2.2% of Cypress Capital Group’s portfolio, making the stock its 7th biggest position. Cypress Capital Group’s holdings in Lockheed Martin were worth $19,645,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Ameriprise Financial Inc. raised its position in Lockheed Martin by 1.7% in the second quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after purchasing an additional 31,545 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Lockheed Martin by 60,592.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after buying an additional 1,556,609 shares during the period. Legal & General Group Plc grew its position in Lockheed Martin by 14.9% in the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after acquiring an additional 180,074 shares during the period. Dimensional Fund Advisors LP grew its position in Lockheed Martin by 11.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock valued at $546,144,000 after acquiring an additional 119,052 shares during the period. Finally, Wulff Hansen & CO. raised its stake in Lockheed Martin by 56,626.7% during the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after acquiring an additional 1,019,281 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LMT. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a report on Tuesday, September 3rd. Barclays boosted their target price on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price objective on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Trading Up 0.3 %

LMT opened at $534.89 on Thursday. The firm has a 50 day simple moving average of $574.19 and a 200 day simple moving average of $526.27. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The company has a market cap of $126.79 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 4.36 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 (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the company posted $6.77 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.47%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. 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.