Sitrin Capital Management LLC Sells 26 Shares of Lockheed Martin Co. (NYSE:LMT)

Sitrin Capital Management LLC lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 0.3% during the 3rd quarter, Holdings Channel reports. The fund owned 9,330 shares of the aerospace company’s stock after selling 26 shares during the period. Lockheed Martin comprises approximately 2.7% of Sitrin Capital Management LLC’s holdings, making the stock its 21st largest position. Sitrin Capital Management LLC’s holdings in Lockheed Martin were worth $5,454,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Lockheed Martin by 130.0% in the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after purchasing an additional 2,019 shares during the period. Buck Wealth Strategies LLC acquired a new position in Lockheed Martin during the second quarter valued at $6,611,000. McAdam LLC raised its holdings in Lockheed Martin by 101.7% in the 3rd quarter. McAdam LLC now owns 1,178 shares of the aerospace company’s stock worth $689,000 after purchasing an additional 594 shares during the period. Verity & Verity LLC grew its holdings in Lockheed Martin by 3.2% in the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock valued at $15,992,000 after purchasing an additional 1,071 shares during the period. Finally, Watts Gwilliam & Co. LLC purchased a new stake in shares of Lockheed Martin in the third quarter valued at approximately $1,096,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LMT. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. raised their price target 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. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research note on Tuesday, September 3rd. Susquehanna decreased their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada dropped their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Trading Up 0.3 %

Shares of NYSE LMT traded up $1.91 during trading on Friday, hitting $547.96. 166,303 shares of the company were exchanged, compared to its average volume of 1,052,362. The company has a fifty day moving average price of $579.44 and a 200-day moving average price of $517.34. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The firm has a market capitalization of $129.89 billion, a PE ratio of 19.88, a P/E/G ratio of 4.47 and a beta of 0.47. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period in the previous year, the business posted $6.77 EPS. Lockheed Martin’s revenue was up 1.3% on a year-over-year basis. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.41%. 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. Lockheed Martin’s dividend payout ratio is presently 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.