GUNN & Co INVESTMENT MANAGEMENT INC. Sells 78,470 Shares of Lockheed Martin Co. (NYSE:LMT)

GUNN & Co INVESTMENT MANAGEMENT INC. cut its position in Lockheed Martin Co. (NYSE:LMT) by 93.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,772 shares of the aerospace company’s stock after selling 78,470 shares during the quarter. Lockheed Martin comprises about 2.3% of GUNN & Co INVESTMENT MANAGEMENT INC.’s portfolio, making the stock its 16th biggest holding. GUNN & Co INVESTMENT MANAGEMENT INC.’s holdings in Lockheed Martin were worth $3,374,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global Assets Advisory LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter worth approximately $456,000. X Square Capital LLC boosted its stake in shares of Lockheed Martin by 3.7% in the third quarter. X Square Capital LLC now owns 2,182 shares of the aerospace company’s stock valued at $1,276,000 after buying an additional 77 shares during the period. Romano Brothers AND Company grew its position in Lockheed Martin by 6.6% during the third quarter. Romano Brothers AND Company now owns 595 shares of the aerospace company’s stock worth $348,000 after buying an additional 37 shares in the last quarter. Patrick M Sweeney & Associates Inc. raised its holdings in Lockheed Martin by 1.7% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,167 shares of the aerospace company’s stock valued at $682,000 after acquiring an additional 20 shares in the last quarter. Finally, Great Lakes Retirement Inc. raised its holdings in Lockheed Martin by 2.4% in the 3rd quarter. Great Lakes Retirement Inc. now owns 5,454 shares of the aerospace company’s stock valued at $3,188,000 after acquiring an additional 127 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $571.10 on Thursday. The business has a 50 day moving average of $579.95 and a 200-day moving average of $513.50. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The company has a market capitalization of $137.03 billion, a P/E ratio of 20.90, a P/E/G ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the firm earned $6.77 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities research analysts predict that Lockheed Martin Co. will post 26.68 earnings per share for the current 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 given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is 48.30%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LMT shares. Royal Bank of Canada decreased their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Susquehanna cut their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a report on Wednesday. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Citigroup raised their target price on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.71.

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.