Lockheed Martin Co. (NYSE:LMT) Shares Sold by Allen Capital Group LLC

Allen Capital Group LLC lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,114 shares of the aerospace company’s stock after selling 124 shares during the quarter. Allen Capital Group LLC’s holdings in Lockheed Martin were worth $1,236,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Lockheed Martin by 130.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after acquiring an additional 2,019 shares during the period. Old West Investment Management LLC raised its holdings in shares of Lockheed Martin by 6.6% during the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after acquiring an additional 1,643 shares during the period. Buck Wealth Strategies LLC purchased a new position in shares of Lockheed Martin during the 2nd quarter worth $6,611,000. Empower Advisory Group LLC raised its holdings in shares of Lockheed Martin by 9.1% during the 3rd quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock worth $12,870,000 after acquiring an additional 1,843 shares during the period. Finally, Financial Enhancement Group LLC raised its holdings in shares of Lockheed Martin by 2,268.3% during the 3rd quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock worth $6,105,000 after acquiring an additional 10,003 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $542.89 on Friday. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The company has a market cap of $128.68 billion, a PE ratio of 19.66, a P/E/G ratio of 4.36 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The business has a 50-day simple moving average of $573.68 and a 200-day simple moving average of $526.39.

Lockheed Martin (NYSE:LMT) last announced 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. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. 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 company posted $6.77 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities research analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.43%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is 47.79%.

Analysts Set New Price Targets

Several brokerages recently issued reports on LMT. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Robert W. Baird boosted their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a report on Tuesday, September 3rd. Susquehanna reduced their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. Finally, Citigroup boosted their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and an average target price of $611.00.

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.