Consolidated Planning Corp Sells 26 Shares of Lockheed Martin Co. (NYSE:LMT)

Consolidated Planning Corp reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 582 shares of the aerospace company’s stock after selling 26 shares during the quarter. Consolidated Planning Corp’s holdings in Lockheed Martin were worth $340,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wealthspire Advisors LLC raised its position in Lockheed Martin by 4.4% during the first quarter. Wealthspire Advisors LLC now owns 2,970 shares of the aerospace company’s stock valued at $1,351,000 after purchasing an additional 124 shares in the last quarter. WealthPLAN Partners LLC increased its stake in shares of Lockheed Martin by 2.8% in the 1st quarter. WealthPLAN Partners LLC now owns 10,448 shares of the aerospace company’s stock valued at $4,752,000 after purchasing an additional 287 shares during the last quarter. Atomi Financial Group Inc. raised its holdings in shares of Lockheed Martin by 2.0% during the 1st quarter. Atomi Financial Group Inc. now owns 1,827 shares of the aerospace company’s stock worth $831,000 after buying an additional 36 shares in the last quarter. Keudell Morrison Wealth Management lifted its position in shares of Lockheed Martin by 4.5% during the 1st quarter. Keudell Morrison Wealth Management now owns 1,738 shares of the aerospace company’s stock worth $790,000 after buying an additional 75 shares during the last quarter. Finally, GW Henssler & Associates Ltd. boosted its stake in Lockheed Martin by 6.4% in the first quarter. GW Henssler & Associates Ltd. now owns 37,915 shares of the aerospace company’s stock valued at $17,246,000 after buying an additional 2,293 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on LMT shares. Susquehanna lowered their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday, October 23rd. Bank of America reissued a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. Robert W. Baird boosted their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Citigroup increased their price target on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, TD Cowen boosted their price objective on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Performance

NYSE:LMT opened at $564.96 on Friday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 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 company has a 50 day simple moving average of $578.06 and a two-hundred day simple moving average of $521.21. The company has a market capitalization of $133.92 billion, a PE ratio of 20.45, a P/E/G ratio of 4.51 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate 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 net margin of 9.36% and a return on equity of 101.44%. Lockheed Martin’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 company posted $6.77 earnings per share. Research analysts anticipate 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. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.34%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is currently 45.62%.

About Lockheed Martin

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.