Goelzer Investment Management Inc. Sells 269 Shares of Lockheed Martin Co. (NYSE:LMT)

Goelzer Investment Management Inc. lessened its position in Lockheed Martin Co. (NYSE:LMT) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,256 shares of the aerospace company’s stock after selling 269 shares during the quarter. Lockheed Martin accounts for approximately 0.9% of Goelzer Investment Management Inc.’s portfolio, making the stock its 13th largest holding. Goelzer Investment Management Inc.’s holdings in Lockheed Martin were worth $17,102,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. HTLF Bank increased its stake in Lockheed Martin by 3.7% in the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock worth $264,000 after buying an additional 20 shares in the last quarter. tru Independence LLC raised its stake in Lockheed Martin by 2.5% during the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after purchasing an additional 20 shares during the period. Sachetta LLC lifted its holdings in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares in the last quarter. Twin Lakes Capital Management LLC boosted its stake in Lockheed Martin by 1.3% in the 2nd quarter. Twin Lakes Capital Management LLC now owns 1,527 shares of the aerospace company’s stock worth $713,000 after purchasing an additional 20 shares during the period. Finally, Goldstein Advisors LLC grew its holdings in Lockheed Martin by 1.2% during the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock valued at $809,000 after buying an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Buying and Selling

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.

Lockheed Martin Trading Down 0.1 %

Shares of LMT stock traded down $0.69 during trading hours on Friday, reaching $605.13. 560,051 shares of the stock were exchanged, compared to its average volume of 1,065,046. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $611.49. The firm has a market capitalization of $145.19 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 4.66 and a beta of 0.47. The company’s 50-day moving average price is $565.71 and its 200-day moving average price is $499.21.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter in the prior year, the firm posted $6.73 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.18%. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LMT shares. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and boosted their target price for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. Susquehanna increased their price objective on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. Bank of America restated a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research report on Tuesday, September 3rd. Finally, Morgan Stanley raised their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $562.54.

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.