NorthRock Partners LLC Sells 262 Shares of Lockheed Martin Co. (NYSE:LMT)

NorthRock Partners LLC lessened its position in shares of Lockheed Martin Co. (NYSE:LMT) by 14.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,596 shares of the aerospace company’s stock after selling 262 shares during the period. NorthRock Partners LLC’s holdings in Lockheed Martin were worth $933,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in LMT. GAMMA Investing LLC boosted its stake in shares of Lockheed Martin by 130.0% in the 2nd 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 in the last quarter. Buck Wealth Strategies LLC bought a new position in Lockheed Martin in the 2nd quarter valued at approximately $6,611,000. McAdam LLC boosted its position in Lockheed Martin by 101.7% in 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 in the last quarter. Verity & Verity LLC grew its stake in shares of Lockheed Martin by 3.2% during the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock worth $15,992,000 after buying an additional 1,071 shares during the last quarter. Finally, Watts Gwilliam & Co. LLC bought a new position in shares of Lockheed Martin in the 3rd quarter valued at $1,096,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of NYSE LMT traded up $2.16 during midday trading on Tuesday, hitting $545.26. 67,435 shares of the company’s stock were exchanged, compared to its average volume of 1,049,749. The business’s fifty day moving average price is $578.95 and its two-hundred day moving average price is $519.48. The company has a market cap of $129.25 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 4.46 and a beta of 0.49. The company has a current ratio of 1.30, a quick ratio of 1.12 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 released 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. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.77 earnings per share. As a group, research analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.42%. Lockheed Martin’s dividend payout ratio is currently 45.62%.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of recent research reports. Bank of America reaffirmed a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Citigroup boosted their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada reduced their price objective 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. Finally, StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

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.