FSB Premier Wealth Management Inc. trimmed its stake in Lockheed Martin Co. (NYSE:LMT – Free Report) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 835 shares of the aerospace company’s stock after selling 23 shares during the quarter. FSB Premier Wealth Management Inc.’s holdings in Lockheed Martin were worth $384,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Edmond DE Rothschild Holding S.A. raised its stake in shares of Lockheed Martin by 100.0% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 60 shares of the aerospace company’s stock valued at $28,000 after buying an additional 30 shares during the period. Coppell Advisory Solutions Corp. purchased a new stake in Lockheed Martin in the 4th quarter worth about $31,000. Cascade Investment Advisors Inc. bought a new stake in Lockheed Martin in the 1st quarter valued at about $35,000. Alaska Permanent Fund Corp purchased a new stake in Lockheed Martin during the second quarter valued at about $35,000. Finally, KB Financial Partners LLC bought a new position in Lockheed Martin during the first quarter worth about $35,000. 74.26% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Lockheed Martin in a research note on Wednesday, September 27th. They set a “hold” rating and a $435.00 price target on the stock. Morgan Stanley cut their price target on Lockheed Martin from $532.00 to $510.00 and set an “equal weight” rating for the company in a report on Wednesday, October 18th. StockNews.com started coverage on Lockheed Martin in a research note on Thursday, October 5th. They set a “buy” rating on the stock. UBS Group initiated coverage on Lockheed Martin in a report on Tuesday, October 10th. They set a “neutral” rating and a $470.00 price objective on the stock. Finally, Jefferies Financial Group reduced their target price on Lockheed Martin from $505.00 to $455.00 and set a “hold” rating for the company in a report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $484.07.
Lockheed Martin Price Performance
Shares of Lockheed Martin stock traded up $1.89 on Tuesday, hitting $445.70. 151,001 shares of the company traded hands, compared to its average volume of 1,242,449. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $508.10. The firm’s 50-day simple moving average is $433.15 and its 200 day simple moving average is $445.80. The company has a market cap of $110.58 billion, a P/E ratio of 16.22, a P/E/G ratio of 1.90 and a beta of 0.60. The company has a current ratio of 1.36, a quick ratio of 1.16 and a debt-to-equity ratio of 1.86.
Lockheed Martin (NYSE:LMT – Get Free Report) last released its quarterly earnings results on Tuesday, October 17th. The aerospace company reported $6.77 earnings per share for the quarter, beating analysts’ consensus estimates of $6.67 by $0.10. Lockheed Martin had a return on equity of 75.46% and a net margin of 10.29%. The business had revenue of $16.88 billion for the quarter, compared to the consensus estimate of $16.73 billion. During the same quarter last year, the business posted $6.87 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts expect that Lockheed Martin Co. will post 27.19 earnings per share for the current fiscal year.
Lockheed Martin Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a $3.15 dividend. The ex-dividend date is Thursday, November 30th. This represents a $12.60 annualized dividend and a yield of 2.83%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.00. Lockheed Martin’s dividend payout ratio is currently 43.84%.
Lockheed Martin Company 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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.
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