Allworth Financial LP Sells 120 Shares of Lockheed Martin Co. (NYSE:LMT)

Allworth Financial LP reduced its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 0.9% during the third quarter, HoldingsChannel.com reports. The fund owned 13,911 shares of the aerospace company’s stock after selling 120 shares during the quarter. Allworth Financial LP’s holdings in Lockheed Martin were worth $8,132,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of LMT. GAMMA Investing LLC grew its position in Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after buying an additional 2,019 shares during the period. Buck Wealth Strategies LLC bought a new position in shares of Lockheed Martin during the 2nd quarter valued at approximately $6,611,000. McAdam LLC increased its stake in shares of Lockheed Martin by 101.7% during the 3rd quarter. McAdam LLC now owns 1,178 shares of the aerospace company’s stock worth $689,000 after purchasing an additional 594 shares during the last quarter. Verity & Verity LLC raised its holdings in shares of Lockheed Martin by 3.2% in the 2nd quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock worth $15,992,000 after purchasing an additional 1,071 shares during the period. Finally, Watts Gwilliam & Co. LLC purchased a new position in Lockheed Martin in the third quarter valued at approximately $1,096,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.3 %

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

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $6.77 EPS. Equities research analysts forecast that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business 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 dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. 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 2.35%. Lockheed Martin’s payout ratio is presently 45.62%.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of recent research reports. Barclays raised their target price on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Susquehanna lowered their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday. Citigroup increased their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. UBS Group boosted their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Morgan Stanley raised their price objective 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. One equities 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $606.71.

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.