Baxter Bros Inc. Sells 382 Shares of Lockheed Martin Co. (NYSE:LMT)

Baxter Bros Inc. trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 5.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,049 shares of the aerospace company’s stock after selling 382 shares during the period. Baxter Bros Inc.’s holdings in Lockheed Martin were worth $4,121,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Burkett Financial Services LLC purchased a new stake in Lockheed Martin in the third quarter worth $32,000. Mattson Financial Services LLC bought a new stake in Lockheed Martin in the second quarter worth $27,000. Sachetta LLC boosted its holdings in 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 acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC boosted its holdings in 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. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in Lockheed Martin in the first quarter worth $30,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Shares of LMT opened at $545.35 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The business has a 50-day simple moving average of $579.25 and a two-hundred day simple moving average of $518.42. The stock has a market cap of $129.27 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 4.47 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last released its earnings results 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. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter last year, the business posted $6.77 earnings per share. The firm’s revenue was up 1.3% on a year-over-year basis. On average, analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The firm 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 represents a $13.20 annualized dividend and a dividend yield of 2.42%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

Wall Street Analyst Weigh In

LMT has been the topic of several analyst reports. Robert W. Baird boosted their target price on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Royal Bank of Canada dropped their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Morgan Stanley boosted their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Susquehanna dropped their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. Finally, Melius Research raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

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.