Harbor Capital Advisors Inc. Decreases Stake in Lockheed Martin Co. (NYSE:LMT)

by · The Markets Daily

Harbor Capital Advisors Inc. trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT – Free Report) by 0.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,933 shares of the aerospace company’s stock after selling 31 shares during the period. Harbor Capital Advisors Inc.’s holdings in Lockheed Martin were worth $3,468,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mattson Financial Services LLC acquired a new stake in shares of Lockheed Martin in the 2nd quarter valued at $27,000. Sachetta LLC lifted its holdings in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. Wiser Advisor Group LLC boosted its position in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Lockheed Martin in the 1st quarter valued at about $30,000. Finally, Stephens Consulting LLC raised its position in shares of Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.1 %

Shares of Lockheed Martin stock opened at $545.35 on Monday. The company has a market cap of $129.27 billion, a P/E ratio of 19.74, a PEG ratio of 4.47 and a beta of 0.49. The firm has a fifty day moving average of $579.25 and a two-hundred day moving average of $518.86. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT – Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the firm earned $6.77 earnings per share. The firm’s revenue was up 1.3% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.42%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is 45.62%.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Barclays increased their target price on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. UBS Group boosted their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada dropped their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, Citigroup lifted their target price on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Check Out Our Latest Analysis 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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