Main Street Financial Solutions LLC Decreases Stake in Lockheed Martin Co. (NYSE:LMT)

Main Street Financial Solutions LLC decreased its holdings in Lockheed Martin Co. (NYSE:LMT) by 5.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,903 shares of the aerospace company’s stock after selling 204 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Lockheed Martin were worth $2,282,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LMT. Burkett Financial Services LLC bought a new position in Lockheed Martin during the third quarter worth $32,000. Mattson Financial Services LLC bought a new position in Lockheed Martin in the second quarter worth about $27,000. Sachetta LLC lifted its holdings in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC boosted its position in Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the period. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Lockheed Martin during the 1st quarter worth $30,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

LMT has been the subject of a number of recent analyst reports. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research report on Tuesday, September 3rd. Barclays raised their target price on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft boosted their target price on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Bank of America reiterated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. Finally, TD Cowen upped their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Price Performance

LMT traded down $8.00 during midday trading on Wednesday, reaching $557.96. 311,502 shares of the company’s stock were exchanged, compared to its average volume of 1,052,461. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The business has a 50-day simple moving average of $578.09 and a two-hundred day simple moving average of $523.56. The firm has a market capitalization of $132.26 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 4.67 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last announced 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 business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the company posted $6.77 EPS. As a group, research analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.37%. Lockheed Martin’s dividend payout ratio is 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.