First American Bank Cuts Stock Position in Lockheed Martin Co. (NYSE:LMT)

First American Bank cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 7.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 7,087 shares of the aerospace company’s stock after selling 576 shares during the period. First American Bank’s holdings in Lockheed Martin were worth $4,143,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LMT. Stokes Family Office LLC acquired a new position in shares of Lockheed Martin during the first quarter worth $425,000. LVW Advisors LLC increased its holdings in shares of Lockheed Martin by 23.8% in the 1st quarter. LVW Advisors LLC now owns 972 shares of the aerospace company’s stock valued at $442,000 after acquiring an additional 187 shares during the last quarter. BKM Wealth Management LLC lifted its stake in Lockheed Martin by 103.5% during the first quarter. BKM Wealth Management LLC now owns 523 shares of the aerospace company’s stock worth $238,000 after purchasing an additional 266 shares during the last quarter. Eagle Capital Management LLC boosted its holdings in Lockheed Martin by 1.0% in the first quarter. Eagle Capital Management LLC now owns 10,838 shares of the aerospace company’s stock valued at $4,930,000 after purchasing an additional 106 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Lockheed Martin by 17.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 193,600 shares of the aerospace company’s stock worth $88,063,000 after purchasing an additional 28,697 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

NYSE:LMT opened at $562.29 on Monday. The company has a current ratio of 1.30, a quick ratio of 1.07 and a debt-to-equity ratio of 2.66. The company has a market capitalization of $134.03 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 4.62 and a beta of 0.47. The firm has a 50-day moving average price of $580.07 and a two-hundred day moving average price of $515.53. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly 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 company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.77 earnings per share. As a group, research analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company 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 dividend of $3.30 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

Wall Street Analyst Weigh In

LMT has been the subject of several research analyst reports. Morgan Stanley upped their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. TD Cowen raised their price objective on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada decreased their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Susquehanna dropped their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus target price 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.