Hancock Whitney Corp Reduces Stock Position in Lockheed Martin Co. (NYSE:LMT)

Hancock Whitney Corp cut its stake in Lockheed Martin Co. (NYSE:LMT) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,489 shares of the aerospace company’s stock after selling 417 shares during the quarter. Lockheed Martin accounts for about 1.1% of Hancock Whitney Corp’s investment portfolio, making the stock its 17th largest holding. Hancock Whitney Corp’s holdings in Lockheed Martin were worth $33,021,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Mattson Financial Services LLC bought a new stake in Lockheed Martin in the 2nd quarter worth approximately $27,000. Sachetta LLC boosted 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 worth $28,000 after buying an additional 20 shares during the last quarter. Wiser Advisor Group LLC grew its holdings 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 acquiring an additional 25 shares during the period. Stephens Consulting LLC grew its holdings 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 acquiring an additional 22 shares during the period. Finally, Burkett Financial Services LLC purchased a new stake in Lockheed Martin during the third quarter valued at $32,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LMT has been the subject of a number of recent research reports. StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Citigroup upped their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Robert W. Baird lifted their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada reduced their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Performance

NYSE LMT opened at $537.04 on Monday. The business has a 50-day moving average price of $573.12 and a 200-day moving average price of $527.79. The firm has a market cap of $127.30 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 4.43 and a beta of 0.49. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last posted its quarterly 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. The business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted $6.77 EPS. As a group, equities research analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a $3.30 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is currently 45.62%.

About Lockheed Martin

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.