Plimoth Trust Co. LLC Decreases Position in Lockheed Martin Co. (NYSE:LMT)

Plimoth Trust Co. LLC trimmed its stake in Lockheed Martin Co. (NYSE:LMT) by 3.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,892 shares of the aerospace company’s stock after selling 166 shares during the period. Plimoth Trust Co. LLC’s holdings in Lockheed Martin were worth $2,860,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barclays increased their target price on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Citigroup lifted their target price on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada increased their price target on shares of Lockheed Martin from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Morgan Stanley raised their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Finally, UBS Group increased their target price on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $597.92.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Performance

Shares of NYSE LMT traded up $2.80 during mid-day trading on Monday, hitting $614.61. The stock had a trading volume of 1,014,018 shares, compared to its average volume of 1,047,012. The firm has a market cap of $147.47 billion, a PE ratio of 22.45, a PEG ratio of 4.84 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The company has a 50 day moving average of $578.29 and a two-hundred day moving average of $511.11. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company earned $6.73 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Research analysts predict that Lockheed Martin Co. will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a $3.30 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend 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.