Lockheed Martin Co. (NYSE:LMT) Shares Sold by Summit Global Investments

Summit Global Investments cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,388 shares of the aerospace company’s stock after selling 929 shares during the quarter. Summit Global Investments’ holdings in Lockheed Martin were worth $9,580,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of LMT. First National Bank & Trust Co. of Newtown grew its holdings in Lockheed Martin by 0.9% during the 3rd quarter. First National Bank & Trust Co. of Newtown now owns 2,936 shares of the aerospace company’s stock valued at $1,716,000 after buying an additional 25 shares during the last quarter. Winthrop Advisory Group LLC acquired a new stake in shares of Lockheed Martin during the third quarter valued at $224,000. Lewis Asset Management LLC acquired a new position in Lockheed Martin in the 3rd quarter valued at about $280,000. Lifestyle Asset Management Inc. purchased a new position in Lockheed Martin in the 3rd quarter valued at about $209,000. Finally, Sittner & Nelson LLC boosted its stake in shares of Lockheed Martin by 4.5% during the 3rd quarter. Sittner & Nelson LLC now owns 467 shares of the aerospace company’s stock worth $273,000 after purchasing an additional 20 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $551.98 on Friday. The company has a market capitalization of $130.84 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 4.44 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The business has a 50-day moving average of $578.42 and a 200-day moving average of $520.28.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion during 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%. Lockheed Martin’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.77 EPS. On average, equities analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.39%. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on LMT shares. Susquehanna cut their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their price objective on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Barclays upped their target price on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley raised their price target on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Company 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.