Lockheed Martin Co. (NYSE:LMT) Shares Sold by Summit Global Investments

Summit Global Investments lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,388 shares of the aerospace company’s stock after selling 929 shares during the quarter. Summit Global Investments’ holdings in Lockheed Martin were worth $9,580,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. CVA Family Office LLC boosted its stake in Lockheed Martin by 1.1% in the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after acquiring an additional 17 shares in the last quarter. AllGen Financial Advisors Inc. lifted its holdings in shares of Lockheed Martin by 4.0% in the 3rd quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after purchasing an additional 18 shares during the last quarter. Salomon & Ludwin LLC boosted its position in shares of Lockheed Martin by 20.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after purchasing an additional 18 shares during the period. Sunburst Financial Group LLC grew its stake in Lockheed Martin by 3.3% during the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after buying an additional 18 shares during the last quarter. Finally, Quad Cities Investment Group LLC increased its position in Lockheed Martin by 1.2% during the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after buying an additional 19 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Susquehanna lowered their price target on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. StockNews.com cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Citigroup increased their price objective on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, UBS Group boosted their target price on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Performance

NYSE:LMT opened at $551.98 on Friday. The firm’s fifty day simple moving average is $578.42 and its 200-day simple moving average is $520.28. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The stock has a market cap of $130.84 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 4.44 and a beta of 0.49. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period in the prior year, the business posted $6.77 earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. Analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.39%. Lockheed Martin’s payout ratio is currently 45.62%.

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.