Great Valley Advisor Group Inc. Sells 742 Shares of Lockheed Martin Co. (NYSE:LMT)

Great Valley Advisor Group Inc. reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 2.0% during the third quarter, according to its most recent filing with the SEC. The fund owned 36,713 shares of the aerospace company’s stock after selling 742 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Lockheed Martin were worth $21,461,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in LMT. Gabelli Funds LLC grew its stake in shares of Lockheed Martin by 7.3% during the 1st quarter. Gabelli Funds LLC now owns 7,350 shares of the aerospace company’s stock worth $3,343,000 after acquiring an additional 500 shares during the period. 1832 Asset Management L.P. boosted its holdings in shares of Lockheed Martin by 25.5% in the first quarter. 1832 Asset Management L.P. now owns 9,970 shares of the aerospace company’s stock worth $4,535,000 after acquiring an additional 2,024 shares during the period. Lazard Asset Management LLC grew its position in shares of Lockheed Martin by 112.2% in the first quarter. Lazard Asset Management LLC now owns 38,442 shares of the aerospace company’s stock valued at $17,486,000 after purchasing an additional 20,327 shares in the last quarter. Ceeto Capital Group LLC raised its stake in shares of Lockheed Martin by 42.9% during the 1st quarter. Ceeto Capital Group LLC now owns 2,000 shares of the aerospace company’s stock valued at $910,000 after purchasing an additional 600 shares during the period. Finally, Mount Yale Investment Advisors LLC lifted its holdings in Lockheed Martin by 15.1% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 1,636 shares of the aerospace company’s stock worth $744,000 after purchasing an additional 215 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 0.0 %

LMT opened at $542.22 on Friday. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The business’s 50-day moving average price is $573.12 and its 200-day moving average price is $526.94. The company has a market cap of $128.53 billion, a P/E ratio of 19.63, a P/E/G ratio of 4.43 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm 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 company posted $6.77 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. On average, equities analysts expect that Lockheed Martin Co. will post 26.89 EPS 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 issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 45.62%.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of recent analyst reports. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a report on Tuesday, September 3rd. Susquehanna reduced their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. Bank of America reiterated a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. Royal Bank of Canada decreased their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Morgan Stanley boosted their price objective on Lockheed Martin from $503.00 to $599.00 and gave the stock 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 assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $611.00.

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.