Camden National Bank Lowers Holdings in Lockheed Martin Co. (NYSE:LMT)

Camden National Bank lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 11.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 457 shares of the aerospace company’s stock after selling 57 shares during the quarter. Camden National Bank’s holdings in Lockheed Martin were worth $267,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Mattson Financial Services LLC purchased a new position in Lockheed Martin in the 2nd quarter worth about $27,000. Sachetta LLC raised its position in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. Wiser Advisor Group LLC raised its position in Lockheed Martin by 65.8% in 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 during the last quarter. Stephens Consulting LLC raised its position in Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares during the last quarter. Finally, Burkett Financial Services LLC purchased a new position in Lockheed Martin in the 3rd quarter worth about $32,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 0.0 %

Shares of NYSE:LMT opened at $542.22 on Friday. The stock has a 50 day moving average of $573.12 and a 200 day moving average of $527.36. The company has a market cap of $128.53 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 4.43 and a beta of 0.49. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the prior year, the company posted $6.77 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.89 EPS 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 paid a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.43%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 45.62%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LMT. Deutsche Bank Aktiengesellschaft boosted their target price on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Bank of America reaffirmed a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research report on Tuesday, September 3rd. UBS Group upped their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Susquehanna reduced their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin 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.