Silverlake Wealth Management LLC Sells 371 Shares of Lockheed Martin Co. (NYSE:LMT)

Silverlake Wealth Management LLC decreased its stake in Lockheed Martin Co. (NYSE:LMT) by 45.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 453 shares of the aerospace company’s stock after selling 371 shares during the period. Silverlake Wealth Management LLC’s holdings in Lockheed Martin were worth $265,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Mattson Financial Services LLC acquired a new stake in Lockheed Martin in the 2nd quarter valued at about $27,000. Sachetta LLC lifted its stake in Lockheed Martin by 50.0% in 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 stake in Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in Lockheed Martin in the 1st quarter valued at about $30,000. Finally, Stephens Consulting LLC lifted its stake in Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on LMT shares. TD Cowen upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, October 8th. Citigroup raised their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Morgan Stanley lifted their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and three have issued 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 price target of $581.77.

Insiders Place Their Bets

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $604.17 on Friday. The company’s 50 day simple moving average is $572.03 and its 200 day simple moving average is $505.23. The stock has a market capitalization of $144.96 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $611.59.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. The business had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $6.73 earnings per share. As a group, research analysts predict that Lockheed Martin Co. will post 26.68 EPS 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. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is presently 48.30%.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.