Aljian Capital Management LLC Sells 1,850 Shares of Lockheed Martin Co. (NYSE:LMT)

Aljian Capital Management LLC lowered its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 19.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,745 shares of the aerospace company’s stock after selling 1,850 shares during the quarter. Lockheed Martin accounts for 1.1% of Aljian Capital Management LLC’s portfolio, making the stock its 14th biggest holding. Aljian Capital Management LLC’s holdings in Lockheed Martin were worth $4,527,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TrinityPoint Wealth LLC grew its stake in Lockheed Martin by 179.4% in the 3rd quarter. TrinityPoint Wealth LLC now owns 13,690 shares of the aerospace company’s stock worth $8,003,000 after acquiring an additional 8,791 shares in the last quarter. Glass Wealth Management Co LLC boosted its holdings in shares of Lockheed Martin by 2.8% in the third quarter. Glass Wealth Management Co LLC now owns 9,806 shares of the aerospace company’s stock valued at $5,732,000 after purchasing an additional 265 shares during the period. Claro Advisors LLC grew its stake in Lockheed Martin by 7.2% in the third quarter. Claro Advisors LLC now owns 4,287 shares of the aerospace company’s stock worth $2,506,000 after purchasing an additional 287 shares in the last quarter. Obsidian Personal Planning Solutions LLC purchased a new position in Lockheed Martin during the 3rd quarter worth $200,000. Finally, Concord Asset Management LLC VA raised its position in Lockheed Martin by 5.8% during the 3rd quarter. Concord Asset Management LLC VA now owns 1,154 shares of the aerospace company’s stock valued at $675,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada dropped their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Citigroup increased their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company increased 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 note on Wednesday, July 24th. Finally, Bank of America reissued a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $534.83 on Monday. The firm has a market capitalization of $126.77 billion, a P/E ratio of 19.36, a PEG ratio of 4.37 and a beta of 0.49. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The company has a 50 day moving average price of $576.52 and a 200 day moving average price of $525.23.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the previous year, the firm posted $6.77 earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. Sell-side analysts expect that Lockheed Martin Co. will post 26.89 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. Stockholders of record on Monday, December 2nd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.47%. Lockheed Martin’s dividend payout ratio is currently 47.79%.

About Lockheed Martin

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.