Patriot Financial Group Insurance Agency LLC Sells 918 Shares of Lockheed Martin Co. (NYSE:LMT)

Patriot Financial Group Insurance Agency LLC lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 41.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,288 shares of the aerospace company’s stock after selling 918 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Lockheed Martin were worth $753,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of LMT. Burkett Financial Services LLC purchased a new position in shares of Lockheed Martin during the 3rd quarter valued at $32,000. Mattson Financial Services LLC purchased a new stake in Lockheed Martin during the second quarter valued at about $27,000. Sachetta LLC boosted its position in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the period. Wiser Advisor Group LLC increased its stake in shares of Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of Lockheed Martin in the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LMT. UBS Group lifted their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Bank of America reiterated a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. TD Cowen upped their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Citigroup raised their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $606.71.

Lockheed Martin Stock Performance

NYSE LMT opened at $555.17 on Tuesday. The company has a market capitalization of $133.21 billion, a P/E ratio of 20.31, a P/E/G ratio of 4.62 and a beta of 0.47. 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 52-week low of $413.92 and a 52-week high of $618.95. The company has a fifty day moving average of $580.01 and a 200-day moving average of $516.25.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The firm 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 company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $6.77 EPS. As a group, equities research analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm 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. The ex-dividend date is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.38%. Lockheed Martin’s dividend payout ratio (DPR) is 48.30%.

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.