Beacon Investment Advisory Services Inc. Sells 155 Shares of Lockheed Martin Co. (NYSE:LMT)

Beacon Investment Advisory Services Inc. lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 5.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,554 shares of the aerospace company’s stock after selling 155 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Lockheed Martin were worth $1,493,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mattson Financial Services LLC bought a new position in Lockheed Martin in the 2nd quarter valued at about $27,000. Sachetta LLC increased its stake in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the last quarter. Stephens Consulting LLC increased its stake in shares of Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the last quarter. Burkett Financial Services LLC purchased a new stake in shares of Lockheed Martin during the 3rd quarter worth approximately $32,000. Finally, Ridgewood Investments LLC purchased a new position in Lockheed Martin in the 2nd quarter valued at approximately $35,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 1.1 %

LMT stock opened at $520.29 on Tuesday. The firm has a 50 day moving average of $568.75 and a 200 day moving average of $529.80. The stock has a market capitalization of $123.33 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 4.32 and a beta of 0.47. 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 Co. has a 52 week low of $413.92 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. Lockheed Martin’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the business earned $6.77 EPS. Sell-side analysts forecast that Lockheed Martin Co. will post 26.94 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.54%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is presently 45.62%.

Analysts Set New Price Targets

Several research analysts have commented on LMT shares. Bank of America reissued a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. Royal Bank of Canada decreased their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research note on Tuesday, September 3rd. Morgan Stanley increased their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Finally, Robert W. Baird upped their target price on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus target price of $611.00.

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.