Lockheed Martin Co. (NYSE:LMT) is Bedell Frazier Investment Counselling LLC’s 3rd Largest Position

Bedell Frazier Investment Counselling LLC reduced its position in Lockheed Martin Co. (NYSE:LMT) by 3.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,024 shares of the aerospace company’s stock after selling 1,110 shares during the period. Lockheed Martin makes up about 3.9% of Bedell Frazier Investment Counselling LLC’s holdings, making the stock its 3rd biggest holding. Bedell Frazier Investment Counselling LLC’s holdings in Lockheed Martin were worth $16,382,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mattson Financial Services LLC purchased a new position in Lockheed Martin in the 2nd quarter valued at about $27,000. Sachetta LLC raised its stake in shares of 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 purchasing an additional 20 shares in the last quarter. Wiser Advisor Group LLC raised its stake in shares of Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares in the last quarter. Stephens Consulting LLC raised 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 valued at $31,000 after purchasing an additional 22 shares in the last quarter. Finally, Burkett Financial Services LLC acquired a new stake in shares of Lockheed Martin in the 3rd quarter valued at about $32,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LMT shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Susquehanna cut their target price 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. Bank of America restated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. UBS Group increased their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $542.22 on Monday. The firm’s 50 day moving average is $573.12 and its two-hundred day moving average is $527.79. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The firm has a market capitalization of $128.53 billion, a P/E ratio of 19.63, a PEG ratio of 4.43 and a beta of 0.49. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. The company 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%. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $6.77 earnings per share. 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 announced 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. This represents a $13.20 dividend on an annualized basis and a yield of 2.43%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is presently 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.