Lockheed Martin Co. (NYSE:LMT) Holdings Trimmed by Solidarity Wealth LLC

Solidarity Wealth LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 44.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,402 shares of the aerospace company’s stock after selling 1,898 shares during the quarter. Solidarity Wealth LLC’s holdings in Lockheed Martin were worth $1,404,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. International Assets Investment Management LLC increased its holdings in shares of Lockheed Martin by 60,592.0% in the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after buying an additional 1,556,609 shares in the last quarter. Wulff Hansen & CO. raised its position in shares of Lockheed Martin by 56,626.7% during the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after purchasing an additional 1,019,281 shares during the period. Capital Research Global Investors lifted its holdings in shares of Lockheed Martin by 29.7% during the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after purchasing an additional 218,506 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Lockheed Martin by 219.3% in the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock valued at $149,138,000 after purchasing an additional 218,466 shares during the period. Finally, Legal & General Group Plc increased its stake in Lockheed Martin by 14.9% in the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after purchasing an additional 180,074 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Performance

LMT stock opened at $545.98 on Thursday. The company has a market capitalization of $131.00 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 4.62 and a beta of 0.47. The firm has a 50 day moving average of $579.65 and a two-hundred day moving average of $517.13. The company has a quick ratio of 1.07, 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.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the prior year, the company posted $6.77 earnings per share. Lockheed Martin’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts anticipate that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.42%. 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 (DPR) is presently 48.30%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LMT. TD Cowen raised their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Morgan Stanley lifted their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Citigroup increased their target price on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. UBS Group lifted their price target on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Bank of America reissued a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. One 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.