Segment Wealth Management LLC Sells 63 Shares of Lockheed Martin Co. (NYSE:LMT)

Segment Wealth Management LLC lowered its position in Lockheed Martin Co. (NYSE:LMT) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,111 shares of the aerospace company’s stock after selling 63 shares during the period. Segment Wealth Management LLC’s holdings in Lockheed Martin were worth $1,819,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Lockheed Martin by 130.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after purchasing an additional 2,019 shares during the last quarter. Buck Wealth Strategies LLC purchased a new stake in Lockheed Martin in the 2nd quarter worth $6,611,000. Verity & Verity LLC raised its holdings in Lockheed Martin by 3.2% during the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock valued at $15,992,000 after acquiring an additional 1,071 shares during the period. Watts Gwilliam & Co. LLC bought a new stake in Lockheed Martin during the third quarter valued at about $1,096,000. Finally, New Mexico Educational Retirement Board lifted its position in shares of Lockheed Martin by 20.5% in the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock valued at $6,222,000 after acquiring an additional 2,400 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LMT shares. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Morgan Stanley raised their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Wells Fargo & Company lifted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 10th. Finally, Susquehanna lifted their target price on Lockheed Martin from $565.00 to $705.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $599.93.

Lockheed Martin Stock Down 6.2 %

Shares of NYSE LMT opened at $576.72 on Wednesday. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The stock has a 50 day moving average price of $579.79 and a 200 day moving average price of $513.10. The firm has a market capitalization of $138.38 billion, a price-to-earnings ratio of 21.10, a PEG 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 (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. Lockheed Martin’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $6.73 earnings per share. Sell-side analysts expect that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $3.30 per share. 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 2.29%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is presently 48.30%.

About Lockheed Martin

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.