Stock Yards Bank & Trust Co. Sells 706 Shares of Lockheed Martin Co. (NYSE:LMT)

Stock Yards Bank & Trust Co. cut its position in Lockheed Martin Co. (NYSE:LMT) by 6.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,689 shares of the aerospace company’s stock after selling 706 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Lockheed Martin were worth $6,248,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin during the third quarter valued at approximately $26,000. Burkett Financial Services LLC purchased a new position in Lockheed Martin in the third quarter worth $32,000. Mattson Financial Services LLC acquired a new position in shares of Lockheed Martin during the second quarter worth $27,000. Sachetta LLC grew its stake in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. Finally, Stephens Consulting LLC raised its stake in Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after buying an additional 22 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 1.7 %

LMT stock opened at $504.27 on Thursday. The firm’s fifty day moving average is $557.18 and its 200 day moving average is $531.98. 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. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. 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 (NYSE:LMT) last announced its quarterly earnings results 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 firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the previous year, the business earned $6.77 EPS. Lockheed Martin’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, research analysts forecast that Lockheed Martin Co. will post 26.94 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.62%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 47.79%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LMT. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective 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. TD Cowen raised their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird boosted their price target on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada reduced their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $612.29.

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.