Planning Capital Management Corp Has $5.96 Million Holdings in Lockheed Martin Co. (NYSE:LMT)

Planning Capital Management Corp lowered its stake in Lockheed Martin Co. (NYSE:LMT) by 6.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,203 shares of the aerospace company’s stock after selling 650 shares during the period. Lockheed Martin accounts for about 4.0% of Planning Capital Management Corp’s holdings, making the stock its 3rd biggest holding. Planning Capital Management Corp’s holdings in Lockheed Martin were worth $5,964,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealthstream Advisors Inc. bought a new stake in shares of Lockheed Martin in the third quarter valued at about $246,000. Huntington National Bank lifted its stake in Lockheed Martin by 3.8% in the 3rd quarter. Huntington National Bank now owns 144,750 shares of the aerospace company’s stock valued at $84,615,000 after acquiring an additional 5,279 shares in the last quarter. ROI Financial Advisors LLC lifted its stake in Lockheed Martin by 8.9% in the 3rd quarter. ROI Financial Advisors LLC now owns 3,037 shares of the aerospace company’s stock valued at $1,776,000 after acquiring an additional 247 shares in the last quarter. Plato Investment Management Ltd boosted its position in Lockheed Martin by 65.7% during the 3rd quarter. Plato Investment Management Ltd now owns 1,852 shares of the aerospace company’s stock worth $1,082,000 after acquiring an additional 734 shares during the last quarter. Finally, Schrum Private Wealth Management LLC grew its stake in shares of Lockheed Martin by 34.0% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 4,472 shares of the aerospace company’s stock worth $2,614,000 after acquiring an additional 1,135 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Down 1.5 %

LMT stock opened at $557.73 on Thursday. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The business’s 50 day simple moving average is $577.75 and its 200 day simple moving average is $523.80. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The firm has a market capitalization of $132.20 billion, a PE ratio of 20.19, a PEG ratio of 4.63 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $6.77 earnings per share. As a group, research analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend 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 yield of 2.37%. Lockheed Martin’s dividend payout ratio (DPR) is 47.79%.

Analyst Upgrades and Downgrades

LMT has been the subject of several recent research reports. Bank of America restated a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a report on Tuesday, September 3rd. Morgan Stanley upped their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. UBS Group raised their price target on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird upped their price objective on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $611.00.

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.