Sheaff Brock Investment Advisors LLC Cuts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Sheaff Brock Investment Advisors LLC trimmed its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 0.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,766 shares of the aerospace company’s stock after selling 118 shares during the period. Lockheed Martin accounts for 1.0% of Sheaff Brock Investment Advisors LLC’s holdings, making the stock its 17th biggest position. Sheaff Brock Investment Advisors LLC’s holdings in Lockheed Martin were worth $11,554,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Ameriprise Financial Inc. grew its stake in Lockheed Martin by 1.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after acquiring an additional 31,545 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Lockheed Martin by 60,592.0% in the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after purchasing an additional 1,556,609 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Lockheed Martin by 14.9% in the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after purchasing an additional 180,074 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Lockheed Martin by 11.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock worth $546,144,000 after buying an additional 119,052 shares in the last quarter. Finally, Wulff Hansen & CO. boosted its stake in Lockheed Martin by 56,626.7% during the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after buying an additional 1,019,281 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

NYSE:LMT opened at $539.04 on Friday. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The firm has a market capitalization of $127.77 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 4.56 and a beta of 0.49. The business’s fifty day moving average price is $577.75 and its 200 day moving average price is $523.80.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for 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%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.77 EPS. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a $3.30 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.45%. Lockheed Martin’s dividend payout ratio is presently 45.62%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Bank of America reaffirmed a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. Robert W. Baird lifted their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Citigroup increased their price objective on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their target price on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average price target 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.