Lockheed Martin Co. (NYSE:LMT) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. lessened its position in Lockheed Martin Co. (NYSE:LMT) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,614 shares of the aerospace company’s stock after selling 61 shares during the quarter. Logan Capital Management Inc.’s holdings in Lockheed Martin were worth $6,789,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC boosted its stake in Lockheed Martin by 1.1% during the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after purchasing an additional 17 shares during the last quarter. AllGen Financial Advisors Inc. boosted its position in Lockheed Martin by 4.0% during the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after acquiring an additional 18 shares during the last quarter. Salomon & Ludwin LLC grew its stake in Lockheed Martin by 20.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 18 shares in the last quarter. Sunburst Financial Group LLC raised its holdings in Lockheed Martin by 3.3% in the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after acquiring an additional 18 shares during the last quarter. Finally, Quad Cities Investment Group LLC lifted its stake in Lockheed Martin by 1.2% in the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after purchasing an additional 19 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Trading Down 0.5 %

Shares of LMT traded down $2.43 during midday trading on Friday, hitting $494.15. 82,244 shares of the stock were exchanged, compared to its average volume of 1,079,991. 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 market cap of $117.13 billion, a P/E ratio of 17.98, a P/E/G ratio of 4.13 and a beta of 0.46. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The stock has a fifty day simple moving average of $555.00 and a 200 day simple moving average of $531.74.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34. The company 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%. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $6.77 EPS. On average, research analysts anticipate that Lockheed Martin Co. will post 26.88 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm 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 annualized dividend and a yield of 2.67%. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 47.79%.

Wall Street Analyst Weigh In

LMT has been the subject of several recent research reports. TD Cowen increased their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Citigroup upped their price objective 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. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada cut their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $612.29.

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.