Pallas Capital Advisors LLC Sells 1,369 Shares of Lockheed Martin Corporation $LMT

Pallas Capital Advisors LLC cut its holdings in Lockheed Martin Corporation (NYSE:LMT) by 38.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,199 shares of the aerospace company’s stock after selling 1,369 shares during the period. Pallas Capital Advisors LLC’s holdings in Lockheed Martin were worth $1,098,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of LMT. Barnes Dennig Private Wealth Management LLC lifted its position in Lockheed Martin by 285.7% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock valued at $27,000 after purchasing an additional 40 shares during the last quarter. Grey Fox Wealth Advisors LLC purchased a new position in shares of Lockheed Martin in the third quarter worth $27,000. Mid American Wealth Advisory Group Inc. bought a new stake in Lockheed Martin during the 2nd quarter valued at $28,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Lockheed Martin during the 2nd quarter valued at $29,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in Lockheed Martin during the 3rd quarter valued at $35,000. 74.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LMT shares. The Goldman Sachs Group upped their price objective on shares of Lockheed Martin from $464.00 to $517.00 and gave the company a “sell” rating in a research note on Monday, February 2nd. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $654.00 price target on shares of Lockheed Martin in a research report on Friday, February 6th. Morgan Stanley set a $675.00 price objective on Lockheed Martin in a report on Wednesday, February 4th. Truist Financial boosted their target price on Lockheed Martin from $605.00 to $695.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, DZ Bank downgraded Lockheed Martin from a “buy” rating to a “hold” rating and set a $665.00 target price for the company. in a report on Tuesday, February 3rd. Six analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $612.50.

Lockheed Martin Trading Down 0.5%

Shares of NYSE LMT opened at $649.18 on Wednesday. The stock has a market cap of $149.36 billion, a P/E ratio of 30.21, a price-to-earnings-growth ratio of 1.18 and a beta of 0.23. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.09 and a quick ratio of 0.94. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $656.34. The firm has a 50-day moving average of $552.83 and a 200 day moving average of $497.97.

Lockheed Martin (NYSE:LMT) last released its earnings results on Thursday, January 29th. The aerospace company reported $5.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.33 by ($0.53). Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The business had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the previous year, the business posted $7.67 earnings per share. Lockheed Martin’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 2nd will be issued a $3.45 dividend. This represents a $13.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, March 2nd. Lockheed Martin’s payout ratio is 64.22%.

Lockheed Martin Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.