Peapack Gladstone Financial Corp Sells 355 Shares of Lockheed Martin Co. (NYSE:LMT)

Peapack Gladstone Financial Corp lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 1.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,873 shares of the aerospace company’s stock after selling 355 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Lockheed Martin were worth $11,032,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of LMT. Bank of Montreal Can boosted its holdings in Lockheed Martin by 2.1% during the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after acquiring an additional 13,253 shares during the last quarter. Hilltop Holdings Inc. boosted its holdings in Lockheed Martin by 79.9% during the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after purchasing an additional 5,361 shares during the last quarter. Old West Investment Management LLC grew its position in Lockheed Martin by 6.6% in the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after purchasing an additional 1,643 shares in the last quarter. Empower Advisory Group LLC increased its stake in Lockheed Martin by 9.1% in the 3rd quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock valued at $12,870,000 after buying an additional 1,843 shares during the last quarter. Finally, Buck Wealth Strategies LLC bought a new position in shares of Lockheed Martin during the 2nd quarter worth approximately $6,611,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.4 %

Shares of LMT stock opened at $494.67 on Friday. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The company’s fifty day simple moving average is $552.79 and its two-hundred day simple moving average is $531.92. 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 stock has a market capitalization of $117.26 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 4.13 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.77 EPS. As a group, analysts anticipate that Lockheed Martin Co. will post 26.88 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.67%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 47.79%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 6th. TD Cowen lifted their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Susquehanna cut their price target 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. Robert W. Baird raised their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada dropped their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $612.29.

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.