SMART Wealth LLC Sells 229 Shares of Lockheed Martin Co. (NYSE:LMT)

SMART Wealth LLC lessened its holdings in Lockheed Martin Co. (NYSE:LMT) by 24.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 707 shares of the aerospace company’s stock after selling 229 shares during the period. SMART Wealth LLC’s holdings in Lockheed Martin were worth $413,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in shares of Lockheed Martin by 60,592.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after buying an additional 1,556,609 shares during the last quarter. Wulff Hansen & CO. lifted its position in Lockheed Martin by 56,626.7% during the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after acquiring an additional 1,019,281 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of Lockheed Martin by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock valued at $263,561,000 after purchasing an additional 249,591 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Lockheed Martin by 8.5% during the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares during the period. Finally, FMR LLC lifted its holdings in Lockheed Martin by 6.6% during the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. UBS Group lifted their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company lowered their target price on shares of Lockheed Martin from $602.00 to $543.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Finally, Bank of America reiterated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $612.29.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $494.65 on Monday. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The company has a market cap of $117.25 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 4.13 and a beta of 0.46. The firm has a 50 day simple moving average of $552.79 and a 200 day simple moving average of $533.00.

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, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter last year, the business earned $6.77 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. Research analysts predict that Lockheed Martin Co. will post 26.88 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.67%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 47.79%.

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.