Oak Harvest Investment Services Sells 5,618 Shares of Lockheed Martin Co. (NYSE:LMT)

Oak Harvest Investment Services lowered its position in shares of Lockheed Martin Co. (NYSE:LMT) by 25.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,342 shares of the aerospace company’s stock after selling 5,618 shares during the quarter. Lockheed Martin accounts for about 1.4% of Oak Harvest Investment Services’ investment portfolio, making the stock its 22nd biggest holding. Oak Harvest Investment Services’ holdings in Lockheed Martin were worth $9,553,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its position in Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after acquiring an additional 1,556,609 shares in the last quarter. Wulff Hansen & CO. lifted its holdings in shares of Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after purchasing an additional 1,019,281 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Lockheed Martin by 29.7% during the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after buying an additional 218,506 shares during the period. National Bank of Canada FI grew its holdings in shares of Lockheed Martin by 219.3% during the first quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock worth $149,138,000 after buying an additional 218,466 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Lockheed Martin by 14.9% in the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after buying an additional 180,074 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LMT shares. JPMorgan Chase & Co. lifted their price objective on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research note on Tuesday, September 3rd. Morgan Stanley raised their price objective on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. TD Cowen upped their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Stock Performance

NYSE LMT opened at $545.98 on Thursday. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The stock has a market cap of $131.00 billion, a PE ratio of 19.98, a P/E/G ratio of 4.62 and a beta of 0.47. The firm has a 50-day moving average of $579.65 and a 200-day moving average of $517.13. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.07 and a current ratio of 1.30.

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 company 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 business’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.77 earnings per share. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.42%. Lockheed Martin’s dividend payout ratio (DPR) is presently 48.30%.

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.