Quarry LP Sells 5,175 Shares of Lockheed Martin Co. (NYSE:LMT)

Quarry LP reduced its position in Lockheed Martin Co. (NYSE:LMT) by 97.6% in the third quarter, HoldingsChannel.com reports. The firm owned 128 shares of the aerospace company’s stock after selling 5,175 shares during the period. Quarry LP’s holdings in Lockheed Martin were worth $75,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in Lockheed Martin in the 3rd quarter worth $26,000. Mattson Financial Services LLC bought a new stake in Lockheed Martin during the second quarter valued at about $27,000. Sachetta LLC lifted its position in shares of 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 boosted its stake in 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 purchasing an additional 22 shares during the period. Finally, Burkett Financial Services LLC bought a new position in shares of Lockheed Martin during the third quarter worth $32,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LMT. Barclays increased their price target on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. UBS Group increased their target price on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada reduced their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $513.03 on Monday. The company has a market capitalization of $121.61 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 4.22 and a beta of 0.46. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The firm’s 50-day moving average is $562.51 and its 200 day moving average is $531.55. 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 issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.77 EPS. Research analysts predict that Lockheed Martin Co. will post 26.94 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Monday, December 2nd. 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.