Northeast Investment Management Lowers Stake in Lockheed Martin Co. (NYSE:LMT)

Northeast Investment Management cut its stake in Lockheed Martin Co. (NYSE:LMT) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,099 shares of the aerospace company’s stock after selling 22 shares during the period. Northeast Investment Management’s holdings in Lockheed Martin were worth $5,903,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Burkett Financial Services LLC acquired a new stake in shares of Lockheed Martin in the third quarter worth approximately $32,000. Mattson Financial Services LLC acquired a new stake in shares of Lockheed Martin in the second quarter worth approximately $27,000. Sachetta LLC lifted its position in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after buying an additional 20 shares in the last quarter. Wiser Advisor Group LLC lifted 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 valued at $29,000 after buying an additional 25 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in Lockheed Martin during the first quarter valued at approximately $30,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 0.1 %

Shares of NYSE:LMT opened at $545.35 on Monday. 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 company has a fifty day simple moving average of $579.25 and a 200 day simple moving average of $518.86. The firm has a market cap of $129.27 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 4.47 and a beta of 0.49. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results 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. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.77 earnings per share. On average, equities research analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.42%. Lockheed Martin’s payout ratio is presently 45.62%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. UBS Group lifted their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada reduced their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Robert W. Baird lifted their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Citigroup lifted their price objective 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. Finally, Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research note on Tuesday, September 3rd. One investment 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $611.00.

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.