Lockheed Martin Co. (NYSE:LMT) Shares Sold by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. lowered its holdings in Lockheed Martin Co. (NYSE:LMT) by 13.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 514 shares of the aerospace company’s stock after selling 78 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Lockheed Martin were worth $300,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LMT. Stokes Family Office LLC acquired a new stake in Lockheed Martin during the first quarter worth about $425,000. Allspring Global Investments Holdings LLC grew its stake in shares of Lockheed Martin by 17.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 193,600 shares of the aerospace company’s stock worth $88,063,000 after purchasing an additional 28,697 shares during the period. Norden Group LLC increased its holdings in shares of Lockheed Martin by 3,271.9% during the 1st quarter. Norden Group LLC now owns 20,400 shares of the aerospace company’s stock valued at $9,281,000 after purchasing an additional 19,795 shares in the last quarter. Westside Investment Management Inc. lifted its stake in shares of Lockheed Martin by 17.3% in the 1st quarter. Westside Investment Management Inc. now owns 1,495 shares of the aerospace company’s stock valued at $679,000 after purchasing an additional 220 shares during the period. Finally, Lee Johnson Capital Management LLC lifted its stake in shares of Lockheed Martin by 8.6% in the 1st quarter. Lee Johnson Capital Management LLC now owns 908 shares of the aerospace company’s stock valued at $413,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. UBS Group lifted their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Royal Bank of Canada cut their price target 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. Deutsche Bank Aktiengesellschaft increased their price target on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. StockNews.com cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Finally, Bank of America reiterated a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $546.93 on Wednesday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.07 and a current ratio of 1.30. The business’s 50 day moving average price is $579.81 and its 200 day moving average price is $516.93. The company has a market cap of $131.23 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 4.62 and a beta of 0.47. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the previous year, the firm earned $6.77 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, research analysts predict that Lockheed Martin Co. will post 26.65 EPS 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 paid a $3.30 dividend. This is a boost 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 annualized dividend and a dividend yield of 2.41%. Lockheed Martin’s dividend payout ratio is 48.30%.

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.