Lockheed Martin Co. (NYSE:LMT) Shares Sold by Rock Point Advisors LLC

Rock Point Advisors LLC lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 5.6% in the third quarter, Holdings Channel reports. The firm owned 590 shares of the aerospace company’s stock after selling 35 shares during the period. Rock Point Advisors LLC’s holdings in Lockheed Martin were worth $345,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Burkett Financial Services LLC acquired a new stake in shares of Lockheed Martin in the third quarter worth $32,000. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin during the second quarter worth about $27,000. Sachetta LLC raised its holdings in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares in the last quarter. Stephens Consulting LLC grew its position in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Lockheed Martin during the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. 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 decreased their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. 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 report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. upped their price objective 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Up 0.4 %

Shares of Lockheed Martin stock traded up $2.17 on Tuesday, hitting $524.06. 173,377 shares of the company traded hands, compared to its average volume of 1,072,808. 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 12-month low of $413.92 and a 12-month high of $618.95. The company has a 50-day moving average price of $572.10 and a 200 day moving average price of $528.17. The company has a market cap of $124.22 billion, a PE ratio of 18.90, a PEG ratio of 4.43 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates 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 period in the previous year, the company earned $6.77 EPS. Sell-side analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a $3.30 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.52%. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

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.