Linscomb Wealth Inc. Trims Position in Lockheed Martin Co. (NYSE:LMT)

Linscomb Wealth Inc. cut its position in Lockheed Martin Co. (NYSE:LMT) by 2.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,461 shares of the aerospace company’s stock after selling 520 shares during the period. Lockheed Martin comprises 0.7% of Linscomb Wealth Inc.’s portfolio, making the stock its 19th largest holding. Linscomb Wealth Inc.’s holdings in Lockheed Martin were worth $13,714,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin in the second quarter worth $27,000. Sachetta LLC increased its stake 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 purchasing an additional 20 shares in the last quarter. Wiser Advisor Group LLC increased its stake in shares of Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares in the last quarter. Stephens Consulting LLC increased its stake in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares in the last quarter. Finally, Burkett Financial Services LLC purchased a new stake in shares of Lockheed Martin in the third quarter worth $32,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LMT. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Bank of America reaffirmed a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. JPMorgan Chase & Co. raised their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley raised their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, Robert W. Baird raised their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Trading Down 0.7 %

Shares of Lockheed Martin stock traded down $3.89 during trading on Friday, hitting $535.10. The stock had a trading volume of 374,198 shares, compared to its average volume of 1,057,187. The firm’s fifty day simple moving average is $577.16 and its 200-day simple moving average is $523.91. The stock has a market cap of $126.84 billion, a PE ratio of 19.61, a PEG ratio of 4.56 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business earned $6.77 EPS. As a group, sell-side analysts expect that Lockheed Martin Co. will post 26.89 EPS 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. Stockholders of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is 45.62%.

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.