US Bancorp DE Trims Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

US Bancorp DE trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 157,978 shares of the aerospace company’s stock after selling 1,700 shares during the period. US Bancorp DE’s holdings in Lockheed Martin were worth $92,348,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Burkett Financial Services LLC purchased a new stake in shares of Lockheed Martin in the third quarter worth approximately $32,000. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin in the second quarter worth approximately $27,000. Sachetta LLC raised its holdings in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the period. Wiser Advisor Group LLC increased its holdings in Lockheed Martin by 65.8% during 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 period. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in Lockheed Martin during the 1st quarter worth $30,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Up 0.1 %

Lockheed Martin stock opened at $546.45 on Friday. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The stock has a market capitalization of $129.53 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 4.47 and a beta of 0.47. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The business has a fifty day moving average price of $579.44 and a 200-day moving average price of $517.34.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $6.77 EPS. Equities research analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 yield of 2.42%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 45.62%.

Analyst Upgrades and Downgrades

Several research firms have commented on LMT. JPMorgan Chase & Co. raised their price objective on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Wells Fargo & Company raised their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Royal Bank of Canada reduced their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a report on Tuesday, September 3rd. Finally, Robert W. Baird raised their price objective on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.