Lockheed Martin Co. (NYSE:LMT) Shares Sold by Royal Fund Management LLC

Royal Fund Management LLC lessened its holdings in Lockheed Martin Co. (NYSE:LMT) by 17.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,672 shares of the aerospace company’s stock after selling 580 shares during the quarter. Royal Fund Management LLC’s holdings in Lockheed Martin were worth $1,591,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Lockheed Martin by 130.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after buying an additional 2,019 shares during the last quarter. Buck Wealth Strategies LLC bought a new position in shares of Lockheed Martin during the second quarter valued at approximately $6,611,000. Verity & Verity LLC raised its position in shares of Lockheed Martin by 3.2% during the 2nd quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock worth $15,992,000 after purchasing an additional 1,071 shares during the period. Brevan Howard Capital Management LP lifted its holdings in shares of Lockheed Martin by 414.2% in the 4th quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock worth $3,228,000 after purchasing an additional 5,736 shares during the last quarter. Finally, New Mexico Educational Retirement Board boosted its position in Lockheed Martin by 20.5% during the 1st quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock valued at $6,222,000 after purchasing an additional 2,400 shares during the period. Institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

LMT has been the topic of several analyst reports. Bank of America reaffirmed a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Susquehanna lifted their price objective on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research note on Tuesday, September 3rd. Morgan Stanley raised their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $568.31.

Insider Buying and Selling

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

Lockheed Martin Price Performance

Shares of LMT stock traded down $3.40 during mid-day trading on Wednesday, hitting $604.65. 47,361 shares of the stock traded hands, compared to its average volume of 1,057,300. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $611.59. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The company’s 50-day simple moving average is $568.68 and its 200-day simple moving average is $502.34. The firm has a market cap of $145.08 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 4.66 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $17.05 billion. During the same period in the previous year, the company earned $6.73 earnings per share. Lockheed Martin’s revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.65 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 paid a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.18%. Lockheed Martin’s dividend payout ratio is currently 48.30%.

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.