Lockheed Martin Co. (NYSE:LMT) Holdings Trimmed by Verity & Verity LLC

Verity & Verity LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 17.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,523 shares of the aerospace company’s stock after selling 6,279 shares during the quarter. Lockheed Martin comprises about 1.7% of Verity & Verity LLC’s investment portfolio, making the stock its 24th biggest holding. Verity & Verity LLC’s holdings in Lockheed Martin were worth $17,258,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of LMT. Mattson Financial Services LLC acquired a new position in shares of Lockheed Martin in the 2nd quarter valued at $27,000. Sachetta LLC boosted its holdings in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the period. Wiser Advisor Group LLC increased its position in shares of Lockheed Martin by 65.8% in 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 in the last quarter. Stephens Consulting LLC raised its holdings in shares of Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 22 shares during the period. Finally, Burkett Financial Services LLC purchased a new stake in shares of Lockheed Martin in the 3rd quarter valued at approximately $32,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LMT has been the topic of several recent analyst reports. 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 research note on Thursday, October 10th. Wells Fargo & Company boosted their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research report on Tuesday, September 3rd. TD Cowen boosted their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft increased 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 investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Performance

Shares of LMT opened at $530.96 on Tuesday. 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 Co. has a one year low of $413.92 and a one year high of $618.95. The company’s fifty day moving average price is $575.61 and its 200 day moving average price is $525.71. The company has a market capitalization of $125.86 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 4.37 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data 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. The business had revenue of $17.10 billion during 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 revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.77 EPS. As a group, analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.49%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is currently 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.