Lockheed Martin Co. (NYSE:LMT) Position Cut by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 8.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,000 shares of the aerospace company’s stock after selling 8,000 shares during the period. Lockheed Martin makes up about 1.7% of Schwartz Investment Counsel Inc.’s portfolio, making the stock its 22nd largest holding. Schwartz Investment Counsel Inc.’s holdings in Lockheed Martin were worth $47,934,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LMT. Mattson Financial Services LLC acquired a new stake in Lockheed Martin in the second quarter worth approximately $27,000. Sachetta LLC increased its position in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. Wiser Advisor Group LLC increased its position in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after buying an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Lockheed Martin during the first quarter worth $30,000. Finally, Stephens Consulting LLC boosted 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 acquiring an additional 22 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on LMT. JPMorgan Chase & Co. upped their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Robert W. Baird increased their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Citigroup increased their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $606.71.

Lockheed Martin Stock Performance

NYSE LMT opened at $564.21 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The firm has a market cap of $135.38 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 4.84 and a beta of 0.47. The company has a 50 day moving average of $579.95 and a 200-day moving average of $513.50. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last released 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 firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the previous year, the business earned $6.77 EPS. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities analysts forecast that Lockheed Martin Co. will post 26.68 earnings per share 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. Stockholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.34%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is currently 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.