Concord Wealth Partners Trims Holdings in Lockheed Martin Co. (NYSE:LMT)

Concord Wealth Partners reduced its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,111 shares of the aerospace company’s stock after selling 34 shares during the period. Concord Wealth Partners’ holdings in Lockheed Martin were worth $1,234,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC increased its position in Lockheed Martin by 60,592.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after buying an additional 1,556,609 shares in the last quarter. Wulff Hansen & CO. grew its stake in shares of Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after acquiring an additional 1,019,281 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Lockheed Martin by 1,075.2% during the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after acquiring an additional 440,169 shares in the last quarter. Capital Research Global Investors raised its position in shares of Lockheed Martin by 29.7% in the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after purchasing an additional 218,506 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in Lockheed Martin by 219.3% in the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock worth $149,138,000 after purchasing an additional 218,466 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. TD Cowen lifted their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company upped their price objective on 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 target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Melius raised 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. Finally, Robert W. Baird increased their price objective on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $606.71.

Lockheed Martin Stock Performance

Shares of LMT traded down $5.28 on Monday, reaching $557.01. The company’s stock had a trading volume of 362,193 shares, compared to its average volume of 1,051,683. The stock’s 50 day simple moving average is $580.07 and its two-hundred day simple moving average is $515.53. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.07. The stock has a market capitalization of $132.77 billion, a P/E ratio of 20.15, a PEG ratio of 4.62 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating 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 previous year, the company earned $6.77 EPS. Lockheed Martin’s revenue for the quarter was up 1.3% on a year-over-year basis. Research analysts forecast that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently declared 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 represents a $13.20 annualized dividend and a yield of 2.37%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 45.62%.

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.