Raymond James & Associates Sells 17 Shares of Lockheed Martin Co. (NYSE:LMT)

Raymond James & Associates lowered its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 0.0% during the third quarter, Holdings Channel reports. The firm owned 389,578 shares of the aerospace company’s stock after selling 17 shares during the period. Raymond James & Associates’ holdings in Lockheed Martin were worth $227,732,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Mattson Financial Services LLC bought a new position in Lockheed Martin during the second quarter valued at about $27,000. Sachetta LLC raised 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 valued at $28,000 after acquiring an additional 20 shares in 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 purchasing an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Lockheed Martin during the first quarter worth approximately $30,000. Finally, Stephens Consulting LLC grew its holdings in Lockheed Martin by 48.9% during the second 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.

Lockheed Martin Stock Performance

NYSE:LMT opened at $611.81 on Friday. The firm has a market capitalization of $146.80 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. 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 12-month low of $413.92 and a 12-month high of $614.62. The firm has a 50-day moving average price of $578.29 and a 200 day moving average price of $510.67.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter last year, the company earned $6.73 EPS. Lockheed Martin’s revenue was up 8.6% on a year-over-year basis. Research analysts anticipate 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 given a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.16%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is 48.30%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Susquehanna upped their price target on shares of Lockheed Martin from $565.00 to $705.00 and gave the company a “positive” rating in a report on Thursday. UBS Group lifted their price objective on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, TD Cowen raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday, October 8th. One 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 stock. According to MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $597.92.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction dated 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 directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by insiders.

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.