WealthPLAN Partners LLC Sells 2,976 Shares of Lockheed Martin Co. (NYSE:LMT)

WealthPLAN Partners LLC cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 26.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,138 shares of the aerospace company’s stock after selling 2,976 shares during the period. WealthPLAN Partners LLC’s holdings in Lockheed Martin were worth $4,757,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin in the second quarter worth approximately $27,000. Sachetta LLC raised its position 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 buying an additional 20 shares during the last quarter. Wiser Advisor Group LLC lifted 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 valued at $29,000 after acquiring an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Lockheed Martin during the 1st quarter valued at $30,000. Finally, Stephens Consulting LLC grew its stake in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $570.58 on Tuesday. The company has a 50 day moving average of $578.06 and a 200 day moving average of $522.08. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock has a market cap of $135.25 billion, a P/E ratio of 20.66, a P/E/G ratio of 4.62 and a beta of 0.49. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last issued 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 company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $6.77 earnings per share. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.31%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is 45.62%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley upped their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Robert W. Baird lifted their price target on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company boosted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Finally, Citigroup boosted their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

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.