Pine Valley Investments Ltd Liability Co Has $6.98 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Pine Valley Investments Ltd Liability Co lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 5.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 11,934 shares of the aerospace company’s stock after selling 733 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Lockheed Martin were worth $6,976,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LMT. Sculati Wealth Management LLC acquired a new stake in shares of Lockheed Martin in the third quarter valued at approximately $258,000. Fulcrum Equity Management boosted its position in Lockheed Martin by 4.7% in the 3rd quarter. Fulcrum Equity Management now owns 900 shares of the aerospace company’s stock valued at $526,000 after buying an additional 40 shares during the last quarter. Anchor Investment Management LLC increased its stake in shares of Lockheed Martin by 8.4% in the 3rd quarter. Anchor Investment Management LLC now owns 4,125 shares of the aerospace company’s stock valued at $2,411,000 after buying an additional 320 shares during the period. Tudor Financial Inc. bought a new stake in shares of Lockheed Martin during the third quarter worth $557,000. Finally, Old West Investment Management LLC lifted its stake in shares of Lockheed Martin by 6.6% during the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after acquiring an additional 1,643 shares during the period. 74.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LMT has been the subject of several recent research reports. Citigroup boosted their price objective on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Royal Bank of Canada dropped their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. UBS Group raised their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research report on Tuesday, September 3rd. Finally, Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $612.29.

Lockheed Martin Stock Performance

LMT stock opened at $504.27 on Thursday. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The firm has a market cap of $119.53 billion, a PE ratio of 18.26, a P/E/G ratio of 4.19 and a beta of 0.47. The business’s 50-day moving average price is $557.18 and its two-hundred day moving average price is $531.98.

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, beating 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 analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the business posted $6.77 EPS. Lockheed Martin’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, research analysts forecast that Lockheed Martin Co. will post 26.94 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This is an increase 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 2.62%. Lockheed Martin’s dividend payout ratio is currently 47.79%.

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.