Point72 Hong Kong Ltd Sells 22,775 Shares of Lockheed Martin Co. (NYSE:LMT)

Point72 Hong Kong Ltd trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 40.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,967 shares of the aerospace company’s stock after selling 22,775 shares during the quarter. Lockheed Martin accounts for 1.4% of Point72 Hong Kong Ltd’s portfolio, making the stock its 14th largest holding. Point72 Hong Kong Ltd’s holdings in Lockheed Martin were worth $19,856,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of LMT. Mattson Financial Services LLC acquired a new position in Lockheed Martin in the 2nd quarter valued at approximately $27,000. Sachetta LLC grew its holdings in shares of 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 purchasing an additional 20 shares in the last quarter. Stephens Consulting LLC increased its position in shares of Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares during the period. Burkett Financial Services LLC acquired a new position in shares of Lockheed Martin in the third quarter valued at $32,000. Finally, Ridgewood Investments LLC bought a new position in Lockheed Martin in the second quarter worth $35,000. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Trading Up 0.7 %

Shares of LMT opened at $529.41 on Friday. The stock has a fifty day moving average price of $568.75 and a two-hundred day moving average price of $529.34. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The company has a market cap of $125.49 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 4.32 and a beta of 0.49. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating 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 business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the previous year, the business posted $6.77 earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. Analysts predict that Lockheed Martin Co. will post 26.94 EPS 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. Stockholders of record on Monday, December 2nd will be paid 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 2.49%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is 45.62%.

Analysts Set New Price Targets

Several brokerages have issued reports on LMT. Robert W. Baird boosted their price target on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Morgan Stanley upped their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research report on Tuesday, September 3rd. Barclays lifted their price objective on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, Bank of America reissued a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.