Lockheed Martin Co. (NYSE:LMT) Shares Sold by JGP Wealth Management LLC

JGP Wealth Management LLC lessened its position in shares of Lockheed Martin Co. (NYSE:LMT) by 1.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,920 shares of the aerospace company’s stock after selling 62 shares during the period. JGP Wealth Management LLC’s holdings in Lockheed Martin were worth $2,292,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HTLF Bank boosted its holdings in shares of Lockheed Martin by 3.7% in the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after buying an additional 20 shares in the last quarter. tru Independence LLC boosted its stake in Lockheed Martin by 2.5% during the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock worth $386,000 after purchasing an additional 20 shares during the period. Sachetta LLC lifted its stake in shares of 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 acquiring an additional 20 shares during the period. Twin Lakes Capital Management LLC lifted its stake in shares of Lockheed Martin by 1.3% in the 2nd quarter. Twin Lakes Capital Management LLC now owns 1,527 shares of the aerospace company’s stock worth $713,000 after acquiring an additional 20 shares during the period. Finally, Goldstein Advisors LLC lifted its stake in shares of Lockheed Martin by 1.2% in the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock worth $809,000 after acquiring an additional 21 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Activity at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on LMT. Susquehanna raised their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. Barclays lifted their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Wells Fargo & Company upped their price target on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their target price on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada increased their target price on Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $581.77.

Lockheed Martin Trading Up 0.7 %

Shares of LMT traded up $4.45 during trading hours on Friday, reaching $601.94. The stock had a trading volume of 174,731 shares, compared to its average volume of 1,054,494. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $611.59. The firm has a 50-day moving average of $570.92 and a 200 day moving average of $503.72. The company has a market cap of $143.48 billion, a P/E ratio of 21.69, a P/E/G ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same period in the prior year, the business earned $6.73 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, sell-side analysts expect that Lockheed Martin Co. will post 26.68 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 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. 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 2.19%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is 45.74%.

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.