Pathstone Holdings LLC Sells 744 Shares of Lockheed Martin Co. (NYSE:LMT)

Pathstone Holdings LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,794 shares of the aerospace company’s stock after selling 744 shares during the period. Pathstone Holdings LLC’s holdings in Lockheed Martin were worth $15,078,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. CVA Family Office LLC grew its position in shares of Lockheed Martin by 1.1% in the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after purchasing an additional 17 shares during the period. AllGen Financial Advisors Inc. lifted its stake in Lockheed Martin by 4.0% in the 3rd quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after buying an additional 18 shares in the last quarter. Salomon & Ludwin LLC boosted its holdings in Lockheed Martin by 20.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after buying an additional 18 shares during the last quarter. Sunburst Financial Group LLC increased its stake in Lockheed Martin by 3.3% during the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after buying an additional 18 shares in the last quarter. Finally, Quad Cities Investment Group LLC raised its holdings in shares of Lockheed Martin by 1.2% during the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after acquiring an additional 19 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LMT shares. Bank of America reaffirmed a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Morgan Stanley upped their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. TD Cowen increased their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird raised their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Price Performance

NYSE:LMT opened at $533.25 on Wednesday. The company has a market capitalization of $126.40 billion, a P/E ratio of 19.31, a P/E/G ratio of 4.37 and a beta of 0.49. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The stock’s fifty day moving average is $574.83 and its two-hundred day moving average is $526.21.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion for 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%. Lockheed Martin’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.77 earnings per share. Equities analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a $3.30 dividend. This is a positive change 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 dividend on an annualized basis and a yield of 2.48%. Lockheed Martin’s payout ratio is presently 45.62%.

About Lockheed Martin

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.