Modera Wealth Management LLC Reduces Stock Position in Lockheed Martin Co. (NYSE:LMT)

Modera Wealth Management LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 16.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 35,526 shares of the aerospace company’s stock after selling 6,770 shares during the period. Modera Wealth Management LLC’s holdings in Lockheed Martin were worth $20,767,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Stokes Family Office LLC acquired a new position in Lockheed Martin in the first quarter valued at $425,000. Cornerstone Wealth Group LLC purchased a new position in Lockheed Martin in the 1st quarter worth approximately $707,000. LVW Advisors LLC increased its stake in Lockheed Martin by 23.8% during the 1st quarter. LVW Advisors LLC now owns 972 shares of the aerospace company’s stock worth $442,000 after buying an additional 187 shares during the period. Oak Asset Management LLC acquired a new position in shares of Lockheed Martin in the first quarter worth about $824,000. Finally, Chapin Davis Inc. boosted its stake in shares of Lockheed Martin by 73.7% during the 1st quarter. Chapin Davis Inc. now owns 1,270 shares of the aerospace company’s stock valued at $578,000 after buying an additional 539 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 equities analysts recently commented on LMT shares. Citigroup lifted their price target on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. TD Cowen lifted their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Morgan Stanley upped their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Finally, Robert W. Baird raised their target price on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $606.71.

Lockheed Martin Price Performance

LMT opened at $562.29 on Friday. The firm has a market capitalization of $134.03 billion, a P/E ratio of 20.36, a PEG ratio of 4.62 and a beta of 0.47. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The company has a quick ratio of 1.07, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The stock has a fifty day moving average of $580.07 and a 200-day moving average of $515.08.

Lockheed Martin (NYSE:LMT) last released 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. 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 during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. Equities analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced 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. 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 yield of 2.35%. Lockheed Martin’s payout ratio is 45.62%.

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.