Lockheed Martin Co. (NYSE:LMT) Stake Cut by Richwood Investment Advisors LLC

Richwood Investment Advisors LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,356 shares of the aerospace company’s stock after selling 118 shares during the quarter. Lockheed Martin comprises approximately 1.6% of Richwood Investment Advisors LLC’s portfolio, making the stock its 10th largest holding. Richwood Investment Advisors LLC’s holdings in Lockheed Martin were worth $1,961,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Lockheed Martin by 130.0% in the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after buying an additional 2,019 shares during the last quarter. Buck Wealth Strategies LLC purchased a new position in Lockheed Martin during the second quarter worth about $6,611,000. Verity & Verity LLC raised its holdings in Lockheed Martin by 3.2% during the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock worth $15,992,000 after purchasing an additional 1,071 shares in the last quarter. Watts Gwilliam & Co. LLC purchased a new position in Lockheed Martin during the third quarter worth about $1,096,000. Finally, New Mexico Educational Retirement Board raised its holdings in Lockheed Martin by 20.5% during the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after purchasing an additional 2,400 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LMT has been the subject of several analyst reports. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a report on Tuesday, September 3rd. Citigroup increased their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 10th. Barclays increased their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, UBS Group boosted their price target on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $587.15.

Lockheed Martin Price Performance

Shares of LMT stock traded down $3.73 during trading hours on Tuesday, hitting $607.14. The company’s stock had a trading volume of 220,123 shares, compared to its average volume of 1,049,593. The business has a fifty day moving average of $573.36 and a 200-day moving average of $506.67. The stock has a market cap of $145.68 billion, a price-to-earnings ratio of 22.38, a P/E/G ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $614.62. 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 (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate of $6.45 by $0.66. The business had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business earned $6.73 earnings per share. As a group, equities research analysts anticipate 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 issued a dividend of $3.30 per share. 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 dividend yield of 2.17%. Lockheed Martin’s dividend payout ratio (DPR) is 48.30%.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Company 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.