Lockheed Martin Co. (NYSE:LMT) Shares Sold by RiverPark Advisors LLC

RiverPark Advisors LLC lowered its position in Lockheed Martin Co. (NYSE:LMT) by 4.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,466 shares of the aerospace company’s stock after selling 69 shares during the period. RiverPark Advisors LLC’s holdings in Lockheed Martin were worth $857,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Burkett Financial Services LLC purchased a new stake in Lockheed Martin during the 3rd quarter valued at about $32,000. Mattson Financial Services LLC purchased a new position in shares of Lockheed Martin during the 2nd quarter worth approximately $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 in the last quarter. Wiser Advisor Group LLC lifted its holdings in 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 buying an additional 25 shares in the last quarter. Finally, Stephens Consulting LLC raised its holdings in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LMT. Royal Bank of Canada reduced their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. TD Cowen lifted their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Morgan Stanley lifted their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Bank of America reaffirmed a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $534.83 on Friday. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The company has a 50 day moving average price of $576.52 and a 200 day moving average price of $524.79. The firm has a market capitalization of $126.78 billion, a price-to-earnings ratio of 19.36, a price-to-earnings-growth ratio of 4.37 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the prior year, the business earned $6.77 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. Sell-side analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.47%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is presently 45.62%.

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.