Grimes & Company Inc. Has $8.93 Million Stake in Lockheed Martin Co. (NYSE:LMT)

Grimes & Company Inc. decreased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 16.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,270 shares of the aerospace company’s stock after selling 2,949 shares during the period. Grimes & Company Inc.’s holdings in Lockheed Martin were worth $8,926,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after buying an additional 2,019 shares during the last quarter. Buck Wealth Strategies LLC bought a new stake in shares of Lockheed Martin during the 2nd quarter worth about $6,611,000. Verity & Verity LLC raised its stake in Lockheed Martin by 3.2% in the 2nd quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock worth $15,992,000 after purchasing an additional 1,071 shares in the last quarter. Watts Gwilliam & Co. LLC acquired a new stake in Lockheed Martin in the 3rd quarter worth about $1,096,000. Finally, New Mexico Educational Retirement Board raised its stake in Lockheed Martin by 20.5% in the 1st quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after purchasing an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of NYSE LMT traded up $1.56 during mid-day trading on Thursday, reaching $572.66. 159,875 shares of the company were exchanged, compared to its average volume of 1,049,973. The stock has a market capitalization of $137.40 billion, a PE ratio of 20.90, a PEG ratio of 4.84 and a beta of 0.47. The company’s 50 day moving average price is $579.95 and its 200 day moving average price is $513.50. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping 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 business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the previous year, the firm posted $6.77 earnings per share. Lockheed Martin’s quarterly revenue was up 1.3% on a year-over-year basis. Sell-side analysts forecast that Lockheed Martin Co. will post 26.68 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is currently 48.30%.

Analyst Upgrades and Downgrades

LMT has been the subject of several analyst reports. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Barclays lifted their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Citigroup boosted their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average price target of $606.71.

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.