Lockheed Martin Co. (NYSE:LMT) Shares Sold by Cedrus LLC

Cedrus LLC trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 32.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 770 shares of the aerospace company’s stock after selling 375 shares during the period. Cedrus LLC’s holdings in Lockheed Martin were worth $450,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Burkett Financial Services LLC acquired a new stake in shares of Lockheed Martin during the 3rd quarter worth about $32,000. Mattson Financial Services LLC purchased a new position in Lockheed Martin during the second quarter worth about $27,000. Sachetta LLC increased its position in shares of Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares during the last quarter. Wiser Advisor Group LLC raised its stake in shares of Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares during the period. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of Lockheed Martin in the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.17% of the stock is owned by corporate insiders.

Lockheed Martin Stock Up 0.4 %

Shares of Lockheed Martin stock opened at $611.81 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $614.62. The company has a market capitalization of $146.80 billion, a P/E ratio of 22.39, a P/E/G ratio of 4.84 and a beta of 0.47. The company has a 50 day moving average of $578.29 and a 200 day moving average of $510.67.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.66. The business had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $6.73 EPS. As a group, research analysts forecast that Lockheed Martin Co. will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business 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 is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.16%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is currently 48.30%.

Wall Street Analysts Forecast Growth

LMT has been the subject of several research reports. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. lifted their price objective on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Royal Bank of Canada boosted their price objective on Lockheed Martin from $600.00 to $675.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Susquehanna raised their target price on Lockheed Martin from $565.00 to $705.00 and gave the company a “positive” rating in a report on Thursday. Finally, Citigroup boosted their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $597.92.

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.