Rogco LP Sells 121 Shares of Lockheed Martin Co. (NYSE:LMT)

Rogco LP cut its position in Lockheed Martin Co. (NYSE:LMT) by 5.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,181 shares of the aerospace company’s stock after selling 121 shares during the quarter. Rogco LP’s holdings in Lockheed Martin were worth $1,275,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC boosted 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 worth $1,668,000 after buying an additional 2,019 shares during the last quarter. Buck Wealth Strategies LLC bought a new stake in shares of Lockheed Martin in the 2nd quarter worth about $6,611,000. Verity & Verity LLC lifted its position 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 purchasing an additional 1,071 shares during the last quarter. Watts Gwilliam & Co. LLC purchased a new stake in shares of Lockheed Martin in the third quarter valued at approximately $1,096,000. Finally, New Mexico Educational Retirement Board increased its position in Lockheed Martin by 20.5% during the 1st quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock valued at $6,222,000 after purchasing an additional 2,400 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Lockheed Martin stock traded down $1.57 during midday trading on Thursday, hitting $569.53. The company’s stock had a trading volume of 362,201 shares, compared to its average volume of 1,051,213. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The stock’s 50-day moving average price is $579.95 and its 200-day moving average price is $513.50. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The company has a market capitalization of $136.65 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the previous year, the company posted $6.77 earnings per share. Lockheed Martin’s revenue for the quarter was up 1.3% compared to the same quarter last year. Analysts anticipate that Lockheed Martin Co. will post 26.68 earnings per share 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. Stockholders of record on Monday, December 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.32%. This is a boost 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 currently 48.30%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LMT. Bank of America reissued a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. Wells Fargo & Company boosted their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their target price on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $606.71.

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.