Quest Partners LLC Trims Position in Lockheed Martin Co. (NYSE:LMT)

Quest Partners LLC reduced its position in shares of Lockheed Martin Co. (NYSE:LMT) by 67.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,539 shares of the aerospace company’s stock after selling 5,274 shares during the quarter. Quest Partners LLC’s holdings in Lockheed Martin were worth $1,484,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Mattson Financial Services LLC acquired a new stake in shares of Lockheed Martin in the second quarter worth approximately $27,000. Sachetta LLC lifted its holdings in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares in the last quarter. Wiser Advisor Group LLC boosted its stake in Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the last quarter. Stephens Consulting LLC grew its holdings in shares of Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares in the last quarter. Finally, Burkett Financial Services LLC acquired a new stake in shares of Lockheed Martin in the third quarter valued at about $32,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Susquehanna cut their price target on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a report on Wednesday, October 23rd. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research report on Tuesday, September 3rd. Robert W. Baird upped their target price on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Finally, Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Stock Up 0.4 %

Lockheed Martin stock opened at $533.25 on Wednesday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The firm has a 50 day moving average price of $574.83 and a 200 day moving average price of $526.21. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The company has a market capitalization of $126.40 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 4.37 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last posted 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. The firm 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%. Lockheed Martin’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.77 EPS. Research analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed 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 dividend yield of 2.48%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is 45.62%.

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.