Tower Bridge Advisors Decreases Stake in Lockheed Martin Co. (NYSE:LMT)

Tower Bridge Advisors decreased its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,582 shares of the aerospace company’s stock after selling 115 shares during the quarter. Tower Bridge Advisors’ holdings in Lockheed Martin were worth $3,848,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Adero Partners LLC grew its position in Lockheed Martin by 3.2% during the third quarter. Adero Partners LLC now owns 1,257 shares of the aerospace company’s stock worth $735,000 after buying an additional 39 shares during the period. GoalVest Advisory LLC grew its holdings in shares of Lockheed Martin by 2.0% in the 3rd quarter. GoalVest Advisory LLC now owns 2,652 shares of the aerospace company’s stock worth $1,550,000 after acquiring an additional 52 shares during the period. Schear Investment Advisers LLC increased its stake in Lockheed Martin by 64.7% in the 3rd quarter. Schear Investment Advisers LLC now owns 1,125 shares of the aerospace company’s stock valued at $658,000 after purchasing an additional 442 shares in the last quarter. Spinnaker Investment Group LLC acquired a new position in Lockheed Martin during the third quarter worth $243,000. Finally, WESPAC Advisors SoCal LLC boosted its position in Lockheed Martin by 2.9% during the third quarter. WESPAC Advisors SoCal LLC now owns 3,756 shares of the aerospace company’s stock worth $2,195,000 after purchasing an additional 107 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LMT. Barclays raised their price target on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Morgan Stanley increased their price target 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. Robert W. Baird lifted their price objective on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Finally, Susquehanna lowered their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. One equities research 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Stock Performance

NYSE LMT opened at $534.83 on Friday. The business’s 50-day moving average price is $576.52 and its 200 day moving average price is $524.79. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The company has a market capitalization of $126.78 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 4.37 and a beta of 0.49.

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 the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same period last year, the company earned $6.77 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. On average, research analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.47%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) 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.