Core Wealth Partners LLC Lowers Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Core Wealth Partners LLC reduced its position in Lockheed Martin Co. (NYSE:LMT) by 3.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 561 shares of the aerospace company’s stock after selling 20 shares during the quarter. Core Wealth Partners LLC’s holdings in Lockheed Martin were worth $328,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of LMT. GAMMA Investing LLC grew its position in Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after acquiring an additional 2,019 shares during the last quarter. Buck Wealth Strategies LLC bought a new position in shares of Lockheed Martin during the 2nd quarter valued at $6,611,000. Old West Investment Management LLC raised its position in Lockheed Martin by 6.6% in the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after purchasing an additional 1,643 shares during the period. Financial Enhancement Group LLC boosted its position in Lockheed Martin by 2,268.3% during the third quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock valued at $6,105,000 after buying an additional 10,003 shares during the period. Finally, McAdam LLC grew its stake in shares of Lockheed Martin by 101.7% during the third quarter. McAdam LLC now owns 1,178 shares of the aerospace company’s stock valued at $689,000 after buying an additional 594 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LMT has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley raised their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Susquehanna lowered their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a report on Wednesday, October 23rd. Robert W. Baird increased their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Finally, Bank of America reaffirmed a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Stock Up 0.8 %

Shares of NYSE:LMT opened at $569.25 on Monday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The firm has a market capitalization of $134.94 billion, a P/E ratio of 20.44, a P/E/G ratio of 4.62 and a beta of 0.49. The stock has a 50 day moving average price of $578.06 and a 200-day moving average price of $522.08.

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

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.32%. 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 dividend payout ratio is 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.