Linscomb Wealth Inc. Lowers Stake in Lockheed Martin Co. (NYSE:LMT)

Linscomb Wealth Inc. lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 2.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,461 shares of the aerospace company’s stock after selling 520 shares during the quarter. Lockheed Martin accounts for 0.7% of Linscomb Wealth Inc.’s investment portfolio, making the stock its 19th biggest position. Linscomb Wealth Inc.’s holdings in Lockheed Martin were worth $13,714,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in LMT. GAMMA Investing LLC raised its position in Lockheed Martin by 130.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after purchasing an additional 2,019 shares during the period. Old West Investment Management LLC raised its position in Lockheed Martin by 6.6% in the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after purchasing an additional 1,643 shares during the period. Buck Wealth Strategies LLC bought a new stake in Lockheed Martin in the 2nd quarter worth $6,611,000. Empower Advisory Group LLC grew its holdings in Lockheed Martin by 9.1% in the 3rd quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock worth $12,870,000 after acquiring an additional 1,843 shares during the last quarter. Finally, Financial Enhancement Group LLC grew its holdings in Lockheed Martin by 2,268.3% in the 3rd quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock worth $6,105,000 after acquiring an additional 10,003 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT traded down $3.89 during mid-day trading on Friday, hitting $535.10. 374,198 shares of the company traded hands, compared to its average volume of 1,057,187. 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 stock has a 50-day moving average price of $577.16 and a two-hundred day moving average price of $523.91. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The stock has a market cap of $126.84 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 4.56 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 for the quarter, beating 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 firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the previous year, the company earned $6.77 earnings per share. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. Equities analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm 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 $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.47%. Lockheed Martin’s dividend payout ratio (DPR) is presently 45.62%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LMT shares. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a report on Tuesday, September 3rd. Citigroup raised their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company raised their price target 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. Barclays lifted 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 note on Tuesday, October 29th. Finally, 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 research note on Friday, August 9th. One research 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. Based on data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and an average 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.