Beacon Investment Advisory Services Inc. Sells 155 Shares of Lockheed Martin Co. (NYSE:LMT)

Beacon Investment Advisory Services Inc. reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 5.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,554 shares of the aerospace company’s stock after selling 155 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Lockheed Martin were worth $1,493,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in LMT. Benjamin Edwards Inc. lifted its stake in Lockheed Martin by 3,837.4% during the third quarter. Benjamin Edwards Inc. now owns 44,256 shares of the aerospace company’s stock worth $25,889,000 after purchasing an additional 43,132 shares during the last quarter. Kestra Investment Management LLC bought a new stake in Lockheed Martin during the third quarter worth $498,000. Alerus Financial NA bought a new stake in Lockheed Martin during the third quarter worth $202,000. FSA Wealth Management LLC bought a new stake in Lockheed Martin during the third quarter worth $338,000. Finally, Mark Sheptoff Financial Planning LLC lifted its stake in Lockheed Martin by 19.1% during the third quarter. Mark Sheptoff Financial Planning LLC now owns 3,000 shares of the aerospace company’s stock worth $1,754,000 after purchasing an additional 481 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Performance

NYSE LMT opened at $520.29 on Tuesday. The company has a market capitalization of $123.33 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 4.32 and a beta of 0.47. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The stock has a fifty day simple moving average of $568.75 and a 200 day simple moving average of $529.80. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $6.77 earnings per share. Sell-side analysts expect that Lockheed Martin Co. will post 26.94 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 2.54%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is 45.62%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Royal Bank of Canada cut their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Barclays upped their target price on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. upped their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Susquehanna lowered their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $611.00.

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.