Lockheed Martin Co. (NYSE:LMT) Shares Sold by FLC Capital Advisors

FLC Capital Advisors trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 11.9% in the third quarter, Holdings Channel reports. The firm owned 1,040 shares of the aerospace company’s stock after selling 140 shares during the period. FLC Capital Advisors’ holdings in Lockheed Martin were worth $608,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mattson Financial Services LLC acquired a new stake in shares of Lockheed Martin during the 2nd quarter worth about $27,000. Sachetta LLC boosted its holdings in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares during the period. Wiser Advisor Group LLC boosted its holdings in Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in Lockheed Martin during the 1st quarter valued at about $30,000. Finally, Stephens Consulting LLC boosted its holdings in Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 22 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a report on Tuesday, September 3rd. UBS Group raised their target price on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. TD Cowen upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, October 8th. Citigroup lifted their price objective on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price objective on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $587.15.

Insiders Place Their Bets

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $612.83 on Thursday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $614.62. The firm has a market capitalization of $147.04 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The stock’s 50-day simple moving average is $575.92 and its 200-day simple moving average is $508.46.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same quarter last year, the company earned $6.73 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts forecast that Lockheed Martin Co. will post 26.68 EPS 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. Shareholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.15%. Lockheed Martin’s payout ratio is 48.30%.

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.