Lafayette Investments Inc. Sells 26 Shares of Lockheed Martin Co. (NYSE:LMT)

Lafayette Investments Inc. trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT) by 0.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,770 shares of the aerospace company’s stock after selling 26 shares during the quarter. Lockheed Martin makes up approximately 2.2% of Lafayette Investments Inc.’s holdings, making the stock its 12th largest position. Lafayette Investments Inc.’s holdings in Lockheed Martin were worth $10,388,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LMT. Mattson Financial Services LLC bought a new stake in Lockheed Martin during the 2nd quarter valued at approximately $27,000. Sachetta LLC boosted its position 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 in the last quarter. Wiser Advisor Group LLC boosted its position 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 in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Lockheed Martin during the 1st quarter valued at approximately $30,000. Finally, Stephens Consulting LLC boosted its position 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 in the last quarter. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Performance

NYSE:LMT traded up $1.96 during trading hours on Thursday, reaching $573.06. The company had a trading volume of 174,959 shares, compared to its average volume of 1,050,401. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The firm has a market cap of $137.50 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 4.84 and a beta of 0.47. The firm’s 50 day moving average price is $579.95 and its 200-day moving average price is $513.50.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the previous year, the firm posted $6.77 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. On average, analysts forecast that Lockheed Martin Co. will post 26.68 EPS for the current 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 given a dividend of $3.30 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.30%. Lockheed Martin’s payout ratio is presently 48.30%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Bank of America reiterated a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday. Robert W. Baird lifted their target price on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday. Finally, Morgan Stanley lifted their target price 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $606.71.

Lockheed Martin 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.