Isthmus Partners LLC Sells 2,460 Shares of Lockheed Martin Co. (NYSE:LMT)

Isthmus Partners LLC reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 9.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,651 shares of the aerospace company’s stock after selling 2,460 shares during the period. Lockheed Martin accounts for approximately 1.6% of Isthmus Partners LLC’s holdings, making the stock its 24th largest holding. Isthmus Partners LLC’s holdings in Lockheed Martin were worth $13,825,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LMT. Mattson Financial Services LLC bought a new position in shares of Lockheed Martin in the 2nd quarter worth $27,000. Sachetta LLC raised its stake 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 buying an additional 20 shares during the period. Stephens Consulting LLC raised its stake in Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares during the period. Burkett Financial Services LLC acquired a new stake in Lockheed Martin during the 3rd quarter worth $32,000. Finally, Ridgewood Investments LLC acquired a new stake in Lockheed Martin during the 2nd quarter worth $35,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Trading Up 0.8 %

Shares of NYSE:LMT opened at $525.75 on Friday. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The stock has a market cap of $124.62 billion, a PE ratio of 19.04, a P/E/G ratio of 4.29 and a beta of 0.49. The business has a 50 day moving average of $569.60 and a 200-day moving average of $528.50. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the company posted $6.77 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. As a group, equities research analysts forecast that Lockheed Martin Co. will post 26.94 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 45.62%.

Analysts Set New Price Targets

Several analysts recently commented on LMT shares. TD Cowen raised their price objective on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Citigroup raised their price objective on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. Finally, UBS Group lifted 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. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin 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.