Secure Asset Management LLC Cuts Stock Position in Lockheed Martin Co. (NYSE:LMT)

by · The Cerbat Gem

Secure Asset Management LLC cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT – Free Report) by 25.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 479 shares of the aerospace company’s stock after selling 161 shares during the quarter. Secure Asset Management LLC’s holdings in Lockheed Martin were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in LMT. Fisher Asset Management LLC boosted its stake in Lockheed Martin by 5.6% in the fourth quarter. Fisher Asset Management LLC now owns 6,853 shares of the aerospace company’s stock valued at $3,106,000 after acquiring an additional 364 shares during the last quarter. Stokes Family Office LLC bought a new position in Lockheed Martin during the first quarter valued at $425,000. Alaska Permanent Fund Corp purchased a new stake in Lockheed Martin in the first quarter worth $217,000. RFG Advisory LLC raised its stake in shares of Lockheed Martin by 18.4% in the first quarter. RFG Advisory LLC now owns 5,522 shares of the aerospace company’s stock valued at $2,512,000 after buying an additional 859 shares during the period. Finally, Meyer Handelman Co. lifted its position in shares of Lockheed Martin by 19.7% during the 1st quarter. Meyer Handelman Co. now owns 4,649 shares of the aerospace company’s stock valued at $2,115,000 after buying an additional 764 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Insider Activity at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LMT. Citigroup boosted their price objective on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Morgan Stanley boosted their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Bank of America reaffirmed a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada raised their price target on Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $597.92.

Read Our Latest Report on LMT

Lockheed Martin Stock Performance

NYSE:LMT opened at $611.76 on Friday. The stock has a market cap of $146.78 billion, a P/E ratio of 22.38, a PEG ratio of 4.84 and a beta of 0.47. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The business’s 50-day moving average price is $578.29 and its two-hundred day moving average price is $510.27. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $614.62.

Lockheed Martin (NYSE:LMT – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same period last year, the firm posted $6.73 earnings per share. Lockheed Martin’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts predict that Lockheed Martin Co. will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a $3.30 dividend. 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 annualized dividend and a yield of 2.16%. Lockheed Martin’s payout ratio is 48.30%.

Lockheed Martin Profile

(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.

Further Reading

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