Lockheed Martin Co. (NYSE:LMT) Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. lowered its stake in Lockheed Martin Co. (NYSE:LMT) by 2.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,989 shares of the aerospace company’s stock after selling 187 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Lockheed Martin were worth $4,670,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. CVA Family Office LLC raised its holdings in Lockheed Martin by 1.1% in the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after acquiring an additional 17 shares in the last quarter. AllGen Financial Advisors Inc. lifted its position in shares of Lockheed Martin by 4.0% during the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after purchasing an additional 18 shares during the last quarter. Salomon & Ludwin LLC grew its stake in Lockheed Martin by 20.5% in the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 18 shares in the last quarter. Sunburst Financial Group LLC increased its holdings in Lockheed Martin by 3.3% in the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after buying an additional 18 shares during the last quarter. Finally, Quad Cities Investment Group LLC raised its stake in Lockheed Martin by 1.2% during the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after buying an additional 19 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

NYSE LMT traded down $2.14 during trading on Friday, reaching $536.85. The company’s stock had a trading volume of 163,778 shares, compared to its average volume of 1,056,239. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The firm has a 50 day moving average price of $577.16 and a 200 day moving average price of $523.91. The firm has a market capitalization of $127.25 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 4.56 and a beta of 0.49. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate 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%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $6.77 earnings per share. As a group, equities analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given 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 2.46%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Susquehanna cut their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. Melius Research raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Robert W. Baird raised their price target on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company increased 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company 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.