Lockheed Martin Co. (NYSE:LMT) Shares Sold by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE decreased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,981 shares of the aerospace company’s stock after selling 141 shares during the period. Lockheed Martin accounts for 1.2% of Smithbridge Asset Management Inc. DE’s portfolio, making the stock its 29th largest position. Smithbridge Asset Management Inc. DE’s holdings in Lockheed Martin were worth $7,004,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake 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 buying an additional 2,019 shares during the last quarter. Buck Wealth Strategies LLC acquired a new stake in shares of Lockheed Martin in the second quarter valued at approximately $6,611,000. McAdam LLC increased its holdings in shares of Lockheed Martin by 101.7% during the third quarter. McAdam LLC now owns 1,178 shares of the aerospace company’s stock valued at $689,000 after purchasing an additional 594 shares during the period. Verity & Verity LLC lifted its stake in shares of Lockheed Martin by 3.2% in the 2nd quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock worth $15,992,000 after acquiring an additional 1,071 shares during the period. Finally, Watts Gwilliam & Co. LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter valued at $1,096,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LMT has been the topic of a number of recent research reports. Bank of America restated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. TD Cowen increased their price objective on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a report on Tuesday, September 3rd. Wells Fargo & Company upped their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada dropped their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $606.71.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $558.37 on Monday. The business has a 50-day moving average price of $580.07 and a two-hundred day moving average price of $515.53. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The company has a current ratio of 1.30, a quick ratio of 1.07 and a debt-to-equity ratio of 2.66. The company has a market cap of $133.09 billion, a P/E ratio of 20.36, a PEG ratio of 4.62 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.77 earnings per share. As a group, analysts anticipate that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Increases Dividend

The business 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 dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is presently 45.62%.

Lockheed Martin Company Profile

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.