Lockheed Martin Co. (NYSE:LMT) Shares Sold by Tower Bridge Advisors

Tower Bridge Advisors decreased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,582 shares of the aerospace company’s stock after selling 115 shares during the quarter. Tower Bridge Advisors’ holdings in Lockheed Martin were worth $3,848,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC grew its holdings in Lockheed Martin by 1.1% during the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after acquiring an additional 17 shares during the period. AllGen Financial Advisors Inc. boosted its position in shares of Lockheed Martin by 4.0% during 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 in the last quarter. Salomon & Ludwin LLC grew its stake 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 worth $62,000 after purchasing an additional 18 shares during the last quarter. Sunburst Financial Group LLC raised its holdings in shares of Lockheed Martin by 3.3% in the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after purchasing an additional 18 shares in the last quarter. Finally, Quad Cities Investment Group LLC lifted its stake 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 valued at $919,000 after purchasing an additional 19 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on LMT shares. Morgan Stanley lifted their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. TD Cowen boosted their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their target price on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Royal Bank of Canada dropped their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Performance

LMT stock opened at $534.83 on Friday. The stock has a market cap of $126.78 billion, a P/E ratio of 19.36, a P/E/G ratio of 4.37 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The firm has a 50 day simple moving average of $576.52 and a 200 day simple moving average of $524.79. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating 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 business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the previous year, the company posted $6.77 EPS. Lockheed Martin’s revenue was up 1.3% on a year-over-year basis. Research analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. 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 dividend yield of 2.47%. Lockheed Martin’s dividend payout ratio (DPR) is 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.