Oppenheimer & Co. Inc. Has $21.11 Million Holdings in Lockheed Martin Co. (NYSE:LMT)

Oppenheimer & Co. Inc. cut its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 4.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 36,117 shares of the aerospace company’s stock after selling 1,551 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Lockheed Martin were worth $21,113,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Hamel Associates Inc. increased its holdings in shares of Lockheed Martin by 0.4% during the third quarter. Hamel Associates Inc. now owns 9,745 shares of the aerospace company’s stock worth $5,697,000 after buying an additional 38 shares in the last quarter. Simmons Bank increased its holdings in shares of Lockheed Martin by 3.2% during the third quarter. Simmons Bank now owns 14,270 shares of the aerospace company’s stock worth $8,342,000 after buying an additional 445 shares in the last quarter. Chase Investment Counsel Corp increased its holdings in shares of Lockheed Martin by 11.6% during the third quarter. Chase Investment Counsel Corp now owns 972 shares of the aerospace company’s stock worth $568,000 after buying an additional 101 shares in the last quarter. Community Bank & Trust Waco Texas increased its holdings in shares of Lockheed Martin by 0.6% during the third quarter. Community Bank & Trust Waco Texas now owns 21,112 shares of the aerospace company’s stock worth $12,341,000 after buying an additional 129 shares in the last quarter. Finally, Empower Advisory Group LLC increased its holdings in shares of Lockheed Martin by 9.1% during the third quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock worth $12,870,000 after buying an additional 1,843 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LMT. Wells Fargo & Company upped their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Morgan Stanley increased their price objective on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Barclays increased their price objective on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Bank of America restated a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. Finally, UBS Group increased their price objective on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Down 1.1 %

Shares of LMT stock traded down $6.40 on Wednesday, reaching $559.56. 139,799 shares of the company were exchanged, compared to its average volume of 1,051,421. The company has a market cap of $132.64 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 4.67 and a beta of 0.49. The company has a 50-day moving average of $578.09 and a 200-day moving average of $523.56. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. The business’s revenue was up 1.3% on a year-over-year basis. Analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a $3.30 dividend. 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. This represents a $13.20 annualized dividend and a yield of 2.36%. Lockheed Martin’s dividend payout ratio (DPR) is presently 45.62%.

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.