Principal Street Partners LLC Sells 2,822 Shares of Lockheed Martin Co. (NYSE:LMT)

Principal Street Partners LLC trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 18.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,722 shares of the aerospace company’s stock after selling 2,822 shares during the quarter. Lockheed Martin comprises 1.2% of Principal Street Partners LLC’s portfolio, making the stock its 12th biggest holding. Principal Street Partners LLC’s holdings in Lockheed Martin were worth $7,283,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mattson Financial Services LLC acquired a new stake in shares of Lockheed Martin in the 2nd quarter valued at $27,000. Sachetta LLC boosted its holdings in Lockheed Martin by 50.0% in 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. Stephens Consulting LLC increased its position in Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the period. Burkett Financial Services LLC acquired a new stake in Lockheed Martin in the third quarter worth about $32,000. Finally, Ridgewood Investments LLC bought a new stake in Lockheed Martin during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LMT shares. UBS Group lifted their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Bank of America reaffirmed a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research note on Tuesday, September 3rd. TD Cowen lifted their price objective on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird increased their target price on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $520.40 on Tuesday. The company has a market capitalization of $123.36 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 4.43 and a beta of 0.49. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. 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 company’s 50 day moving average price is $572.10 and its two-hundred day moving average price is $528.17.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS 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 net margin of 9.36% and a return on equity of 101.44%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the business posted $6.77 earnings per share. On average, analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company 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 dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.54%. Lockheed Martin’s dividend payout ratio (DPR) is presently 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.