Camden National Bank Sells 57 Shares of Lockheed Martin Co. (NYSE:LMT)

Camden National Bank lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 11.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 457 shares of the aerospace company’s stock after selling 57 shares during the quarter. Camden National Bank’s holdings in Lockheed Martin were worth $267,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Gabelli Funds LLC boosted its position in shares of Lockheed Martin by 7.3% in the first quarter. Gabelli Funds LLC now owns 7,350 shares of the aerospace company’s stock valued at $3,343,000 after acquiring an additional 500 shares during the period. 1832 Asset Management L.P. boosted its position in shares of Lockheed Martin by 25.5% in the first quarter. 1832 Asset Management L.P. now owns 9,970 shares of the aerospace company’s stock valued at $4,535,000 after acquiring an additional 2,024 shares during the period. Lazard Asset Management LLC boosted its position in shares of Lockheed Martin by 112.2% in the first quarter. Lazard Asset Management LLC now owns 38,442 shares of the aerospace company’s stock valued at $17,486,000 after acquiring an additional 20,327 shares during the period. Mount Yale Investment Advisors LLC boosted its position in shares of Lockheed Martin by 15.1% in the first quarter. Mount Yale Investment Advisors LLC now owns 1,636 shares of the aerospace company’s stock valued at $744,000 after acquiring an additional 215 shares during the period. Finally, Waverly Advisors LLC boosted its position in shares of Lockheed Martin by 168.3% in the first quarter. Waverly Advisors LLC now owns 3,839 shares of the aerospace company’s stock valued at $1,747,000 after acquiring an additional 2,408 shares during the period. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LMT. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Morgan Stanley raised their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. raised their target price 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. Finally, Susquehanna lowered their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Performance

NYSE:LMT opened at $542.22 on Friday. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The stock has a market cap of $128.53 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 4.43 and a beta of 0.49. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm’s fifty day simple moving average is $573.12 and its 200 day simple moving average is $527.36.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating 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 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. The company’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, research analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is 45.62%.

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.