Financial Advisory Partners LLC Sells 148 Shares of Lockheed Martin Co. (NYSE:LMT)

Financial Advisory Partners LLC trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,023 shares of the aerospace company’s stock after selling 148 shares during the quarter. Lockheed Martin comprises approximately 1.4% of Financial Advisory Partners LLC’s holdings, making the stock its 23rd biggest position. Financial Advisory Partners LLC’s holdings in Lockheed Martin were worth $4,105,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LMT. GAMMA Investing LLC raised its holdings in Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after acquiring an additional 2,019 shares during the period. Buck Wealth Strategies LLC purchased a new stake in shares of Lockheed Martin during the second quarter worth about $6,611,000. Verity & Verity LLC raised its stake in Lockheed Martin by 3.2% during the 2nd quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock valued at $15,992,000 after purchasing an additional 1,071 shares during the period. Brevan Howard Capital Management LP boosted its stake in 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 period. Finally, New Mexico Educational Retirement Board grew its holdings 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 buying an additional 2,400 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LMT has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Wells Fargo & Company raised their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Bank of America reiterated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Barclays lifted their price objective on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada increased their target price on Lockheed Martin from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $568.31.

Lockheed Martin Trading Down 0.7 %

NYSE:LMT traded down $4.39 during mid-day trading on Thursday, hitting $600.72. 163,304 shares of the stock traded hands, compared to its average volume of 1,055,460. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The stock has a market capitalization of $144.14 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 4.66 and a beta of 0.47. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $611.59. The firm’s 50 day moving average is $569.95 and its two-hundred day moving average is $503.06.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $17.05 billion. During the same period in the prior year, the business posted $6.73 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts predict 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 of this dividend 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 2.20%. Lockheed Martin’s dividend payout ratio is presently 48.30%.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the company’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 transaction, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by company insiders.

Lockheed Martin 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.