Lockheed Martin Co. (NYSE:LMT) Shares Sold by MAI Capital Management

MAI Capital Management lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 37,203 shares of the aerospace company’s stock after selling 3,134 shares during the period. MAI Capital Management’s holdings in Lockheed Martin were worth $21,747,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. CVA Family Office LLC grew its stake in shares of Lockheed Martin by 1.1% during the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after buying an additional 17 shares during the period. AllGen Financial Advisors Inc. boosted its holdings in Lockheed Martin by 4.0% in the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after acquiring an additional 18 shares during the last quarter. Salomon & Ludwin LLC grew its position in Lockheed Martin by 20.5% during the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 18 shares during the period. Sunburst Financial Group LLC grew its position in Lockheed Martin by 3.3% during the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after acquiring an additional 18 shares during the period. Finally, Quad Cities Investment Group LLC increased its stake in Lockheed Martin by 1.2% during the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after acquiring an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $534.83 on Monday. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The stock’s 50-day moving average is $576.52 and its two-hundred day moving average is $525.23. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The firm has a market cap 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 (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.77 earnings per share. Analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal 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 paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.47%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is presently 47.79%.

Analyst Ratings Changes

A number of analysts recently issued reports on LMT shares. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Susquehanna decreased their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. raised their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Citigroup upped their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Royal Bank of Canada lowered their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $611.00.

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.