Lockheed Martin Co. (NYSE:LMT) Shares Sold by Raymond James & Associates

Raymond James & Associates lowered its position in Lockheed Martin Co. (NYSE:LMT) by 0.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 389,578 shares of the aerospace company’s stock after selling 17 shares during the quarter. Raymond James & Associates owned about 0.16% of Lockheed Martin worth $227,732,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Friedenthal Financial acquired a new stake in Lockheed Martin in the 3rd quarter valued at approximately $50,000. First Citizens Bank & Trust Co. increased its holdings in shares of Lockheed Martin by 5.8% during the third quarter. First Citizens Bank & Trust Co. now owns 4,109 shares of the aerospace company’s stock valued at $2,402,000 after purchasing an additional 227 shares during the period. Chronos Wealth Management LLC raised its stake in shares of Lockheed Martin by 0.6% during the third quarter. Chronos Wealth Management LLC now owns 11,631 shares of the aerospace company’s stock valued at $6,799,000 after purchasing an additional 70 shares in the last quarter. Blue Trust Inc. lifted its holdings in Lockheed Martin by 61.0% in the third quarter. Blue Trust Inc. now owns 7,712 shares of the aerospace company’s stock worth $4,508,000 after purchasing an additional 2,923 shares during the period. Finally, Meridian Financial Partners LLC grew its position in Lockheed Martin by 6.7% in the 3rd quarter. Meridian Financial Partners LLC now owns 480 shares of the aerospace company’s stock valued at $281,000 after buying an additional 30 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LMT. Citigroup upped their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Susquehanna increased their price target on Lockheed Martin from $565.00 to $705.00 and gave the company a “positive” rating in a research note on Thursday. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research report on Tuesday, September 3rd. Wells Fargo & Company upped their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Finally, Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $597.92.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $611.81 on Friday. The company’s fifty day moving average is $578.29 and its two-hundred day moving average is $510.67. The company has a market cap of $146.80 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $614.62. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same period in the previous year, the firm earned $6.73 earnings per share. Lockheed Martin’s quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts expect that Lockheed Martin Co. will post 26.68 earnings per share for the current fiscal 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 issued a dividend of $3.30 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is currently 48.30%.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the sale, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by 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.