Klingenstein Fields & Co. LP Lowers Stake in Lockheed Martin Co. (NYSE:LMT)

by · The Markets Daily

Klingenstein Fields & Co. LP trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT – Free Report) by 9.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,953 shares of the aerospace company’s stock after selling 509 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Lockheed Martin were worth $2,896,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vestor Capital LLC purchased a new position in shares of Lockheed Martin during the third quarter valued at approximately $46,000. Intact Investment Management Inc. purchased a new position in Lockheed Martin during the third quarter worth approximately $70,000. Donaldson Capital Management LLC raised its stake in Lockheed Martin by 1.3% during the third quarter. Donaldson Capital Management LLC now owns 125,271 shares of the aerospace company’s stock worth $73,229,000 after purchasing an additional 1,598 shares during the period. Lansing Street Advisors purchased a new position in Lockheed Martin during the third quarter worth approximately $213,000. Finally, BSW Wealth Partners purchased a new position in Lockheed Martin during the third quarter worth approximately $490,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Trading Up 0.1 %

NYSE LMT opened at $545.90 on Monday. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month 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 capitalization of $129.40 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 4.47 and a beta of 0.49. The company’s fifty day moving average price is $579.25 and its two-hundred day moving average price is $518.86.

Lockheed Martin (NYSE:LMT – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 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 firm had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the prior year, the firm posted $6.77 EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. As a group, research analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal 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 given a $3.30 dividend. This is an increase 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 2.42%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is presently 45.62%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LMT shares. UBS Group increased their price target 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. Barclays increased their price target on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Bank of America reissued a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. Susquehanna dropped their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased their price objective 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Get Our Latest Analysis on Lockheed Martin

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.

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