Burke & Herbert Bank & Trust Co. Trims Stock Position in Lockheed Martin Co. (NYSE:LMT)

by · The Cerbat Gem

Burke & Herbert Bank & Trust Co. trimmed its stake in Lockheed Martin Co. (NYSE:LMT – Free Report) by 33.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 416 shares of the aerospace company’s stock after selling 206 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Lockheed Martin were worth $243,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. CVA Family Office LLC boosted its position in shares of Lockheed Martin by 1.1% during the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after acquiring an additional 17 shares during the last quarter. Quad Cities Investment Group LLC lifted its stake in Lockheed Martin by 1.2% in the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after purchasing an additional 19 shares in the last quarter. HTLF Bank grew its position in shares of Lockheed Martin by 3.7% during the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after purchasing an additional 20 shares in the last quarter. tru Independence LLC increased its holdings in shares of Lockheed Martin by 2.5% in the second quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock worth $386,000 after purchasing an additional 20 shares during the last quarter. Finally, Sachetta LLC lifted its position in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 0.4 %

NYSE:LMT traded up $2.23 during midday trading on Friday, reaching $566.44. 130,454 shares of the stock traded hands, compared to its average volume of 1,050,291. The business has a 50-day moving average of $579.95 and a two-hundred day moving average of $513.50. The stock has a market capitalization of $135.91 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT – Get Free Report) last issued its quarterly 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 business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $6.77 earnings per share. On average, equities analysts forecast that Lockheed Martin Co. will post 26.68 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. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.33%. Lockheed Martin’s payout ratio is 48.30%.

Analysts Set New Price Targets

LMT has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Susquehanna decreased their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday. 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. Finally, Citigroup upped their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $606.71.

View Our Latest Research Report on Lockheed Martin

About Lockheed Martin

(Free Report)

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.

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