Grassi Investment Management Has $15.10 Million Holdings in Lockheed Martin Co. (NYSE:LMT)

Grassi Investment Management decreased its position in Lockheed Martin Co. (NYSE:LMT) by 0.1% in the third quarter, HoldingsChannel reports. The firm owned 25,837 shares of the aerospace company’s stock after selling 30 shares during the period. Lockheed Martin accounts for about 1.3% of Grassi Investment Management’s investment portfolio, making the stock its 17th biggest holding. Grassi Investment Management’s holdings in Lockheed Martin were worth $15,103,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mattson Financial Services LLC purchased a new position in shares of Lockheed Martin during the second quarter valued at $27,000. Sachetta LLC grew its stake in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC increased its holdings in shares of Lockheed Martin by 65.8% in the 1st 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 period. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Lockheed Martin in the first quarter worth approximately $30,000. Finally, Stephens Consulting LLC boosted 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 worth $31,000 after purchasing an additional 22 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

NYSE LMT opened at $571.10 on Thursday. The stock has a market capitalization of $137.03 billion, a PE ratio of 20.90, a P/E/G ratio of 4.84 and a beta of 0.47. The stock has a 50-day simple moving average of $579.95 and a 200 day simple moving average of $513.50. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. Lockheed Martin’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company posted $6.77 earnings per share. Research analysts anticipate that Lockheed Martin Co. will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.31%. Lockheed Martin’s dividend payout ratio (DPR) is 48.30%.

Analyst Ratings Changes

LMT has been the subject of a number of research analyst reports. UBS Group increased their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research report on Wednesday. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft raised their price target on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Susquehanna lowered their price target on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday. Finally, Robert W. Baird raised their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned 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 a consensus rating of “Moderate Buy” and a consensus target price of $606.71.

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.