Schmidt P J Investment Management Inc. Sells 44 Shares of Lockheed Martin Co. (NYSE:LMT)

Schmidt P J Investment Management Inc. decreased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,612 shares of the aerospace company’s stock after selling 44 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Lockheed Martin were worth $2,112,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in LMT. Stokes Family Office LLC bought a new position in Lockheed Martin in the first quarter valued at $425,000. Hennessy Advisors Inc. bought a new position in Lockheed Martin in the first quarter valued at $2,775,000. Kathmere Capital Management LLC grew its position in Lockheed Martin by 33.4% in the first quarter. Kathmere Capital Management LLC now owns 2,947 shares of the aerospace company’s stock valued at $1,341,000 after purchasing an additional 738 shares in the last quarter. Financial Management Professionals Inc. grew its position in Lockheed Martin by 10.6% in the first quarter. Financial Management Professionals Inc. now owns 1,229 shares of the aerospace company’s stock valued at $559,000 after purchasing an additional 118 shares in the last quarter. Finally, Webster Bank N. A. grew its position in Lockheed Martin by 34.7% in the first quarter. Webster Bank N. A. now owns 194 shares of the aerospace company’s stock valued at $88,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

NYSE LMT opened at $564.21 on Friday. The firm has a 50-day moving average of $579.95 and a 200-day moving average of $513.50. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock has a market cap of $135.38 billion, a PE ratio of 20.64, a P/E/G ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its 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 company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. Lockheed Martin’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $6.77 EPS. On average, sell-side 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. Shareholders of record on Monday, December 2nd will be paid 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 2.34%. Lockheed Martin’s payout ratio is 48.30%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company raised their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Morgan Stanley lifted their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Barclays lifted their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. One 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $606.71.

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.