Lockheed Martin Co. (NYSE:LMT) Shares Sold by Verity & Verity LLC

Verity & Verity LLC cut its position in Lockheed Martin Co. (NYSE:LMT) by 17.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,523 shares of the aerospace company’s stock after selling 6,279 shares during the quarter. Lockheed Martin makes up 1.7% of Verity & Verity LLC’s investment portfolio, making the stock its 24th biggest holding. Verity & Verity LLC’s holdings in Lockheed Martin were worth $17,258,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. CVA Family Office LLC grew its holdings in Lockheed Martin by 1.1% during the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after purchasing an additional 17 shares in the last quarter. AllGen Financial Advisors Inc. boosted its position in Lockheed Martin by 4.0% in the 3rd quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after buying an additional 18 shares during the last quarter. Salomon & Ludwin LLC grew its stake in shares of Lockheed Martin by 20.5% during the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 18 shares in the last quarter. Sunburst Financial Group LLC increased its position in shares of Lockheed Martin by 3.3% during the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after acquiring an additional 18 shares during the last quarter. Finally, Quad Cities Investment Group LLC lifted its stake in shares of Lockheed Martin by 1.2% in the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after acquiring an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.7 %

Shares of Lockheed Martin stock opened at $530.96 on Tuesday. The stock has a market capitalization of $125.86 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 4.37 and a beta of 0.49. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. 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 business’s 50 day simple moving average is $575.61 and its 200-day simple moving average is $525.71.

Lockheed Martin (NYSE:LMT) last issued 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 for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the company earned $6.77 earnings per share. Equities research analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared 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 2.49%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is 45.62%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Susquehanna lowered their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research note on Tuesday, September 3rd. Barclays boosted their target price on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Robert W. Baird upped their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.