Hancock Whitney Corp Sells 417 Shares of Lockheed Martin Co. (NYSE:LMT)

Hancock Whitney Corp decreased its position in Lockheed Martin Co. (NYSE:LMT) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,489 shares of the aerospace company’s stock after selling 417 shares during the quarter. Lockheed Martin accounts for 1.1% of Hancock Whitney Corp’s portfolio, making the stock its 17th largest position. Hancock Whitney Corp’s holdings in Lockheed Martin were worth $33,021,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in LMT. Mattson Financial Services LLC purchased a new position in shares of Lockheed Martin in the second quarter valued at about $27,000. Sachetta LLC raised its position in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC lifted its holdings 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 period. Stephens Consulting LLC grew its position 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 worth $31,000 after buying an additional 22 shares during the last quarter. Finally, Burkett Financial Services LLC bought a new position in shares of Lockheed Martin during the third quarter valued at approximately $32,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

LMT opened at $537.04 on Monday. The firm has a market cap of $127.30 billion, a PE ratio of 19.63, a P/E/G ratio of 4.43 and a beta of 0.49. The stock has a 50-day moving average price of $573.12 and a 200-day moving average price of $527.79. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year 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.

Lockheed Martin (NYSE:LMT) last issued its earnings results 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 business 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 business’s revenue for the quarter was up 1.3% compared to the same quarter last year. Sell-side analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.46%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

Analyst Ratings Changes

LMT has been the topic of a number of research analyst reports. 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 research report on Wednesday, October 23rd. Barclays increased their price target on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Bank of America reaffirmed a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research report on Tuesday, September 3rd. Finally, TD Cowen lifted their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus 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.