Intellectus Partners LLC Cuts Position in Lockheed Martin Co. (NYSE:LMT)

Intellectus Partners LLC trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT) by 9.3% during the third quarter, Holdings Channel reports. The firm owned 9,727 shares of the aerospace company’s stock after selling 995 shares during the quarter. Lockheed Martin comprises approximately 1.5% of Intellectus Partners LLC’s holdings, making the stock its 12th biggest position. Intellectus Partners LLC’s holdings in Lockheed Martin were worth $5,686,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

LMT has been the subject of a number of recent analyst reports. Royal Bank of Canada dropped their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Barclays increased their target price on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Bank of America reaffirmed a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. Finally, Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Price Performance

Shares of LMT opened at $539.04 on Friday. The stock has a market cap of $127.77 billion, a P/E ratio of 19.52, a price-to-earnings-growth ratio of 4.56 and a beta of 0.49. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The stock’s 50-day moving average price is $577.75 and its two-hundred day moving average price is $523.80. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. Lockheed Martin’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $6.77 EPS. On average, equities analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.45%. Lockheed Martin’s payout ratio is currently 45.62%.

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.