Summit Financial Strategies Inc. Has $312,000 Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Summit Financial Strategies Inc. trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 10.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 533 shares of the aerospace company’s stock after selling 65 shares during the period. Summit Financial Strategies Inc.’s holdings in Lockheed Martin were worth $312,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Burkett Financial Services LLC bought a new position in shares of Lockheed Martin in the 3rd quarter valued at $32,000. Mattson Financial Services LLC bought a new position in Lockheed Martin during the 2nd quarter worth $27,000. Sachetta LLC raised its position 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 purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC raised its position in Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Lockheed Martin during the 1st quarter worth $30,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Down 0.2 %

Lockheed Martin stock traded down $1.23 during midday trading on Thursday, reaching $611.60. The stock had a trading volume of 107,182 shares, compared to its average volume of 1,045,548. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $614.62. The company has a market capitalization of $146.75 billion, a P/E ratio of 22.36, a PEG ratio of 4.84 and a beta of 0.47. The company has a fifty day moving average price of $575.92 and a two-hundred day moving average price of $508.46. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same period in the previous year, the company posted $6.73 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts expect that Lockheed Martin Co. will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.16%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is presently 48.30%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Royal Bank of Canada raised their target price on Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. raised their target price on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday. Wells Fargo & Company raised their target price on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Finally, Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $597.92.

Insider Activity at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by corporate insiders.

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.