Bruce G. Allen Investments LLC Sells 21 Shares of Lockheed Martin Co. (NYSE:LMT)

Bruce G. Allen Investments LLC trimmed its stake in Lockheed Martin Co. (NYSE:LMT) by 10.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 182 shares of the aerospace company’s stock after selling 21 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Lockheed Martin were worth $106,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Mattson Financial Services LLC acquired a new position in Lockheed Martin in the 2nd quarter valued at $27,000. Sachetta LLC raised its holdings 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 acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC raised its holdings in 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 acquiring an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Lockheed Martin in the 1st quarter valued at $30,000. Finally, Stephens Consulting LLC raised its holdings in 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 acquiring an additional 22 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Lockheed Martin Stock Down 0.5 %

Shares of Lockheed Martin stock opened at $605.12 on Thursday. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $611.59. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The stock’s 50-day moving average is $568.68 and its 200 day moving average is $502.34. The firm has a market cap of $145.19 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 4.66 and a beta of 0.47.

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

Lockheed Martin Increases Dividend

The firm also recently announced 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 positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.18%. Lockheed Martin’s dividend payout ratio is currently 48.30%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LMT. Bank of America reissued a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. 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. Morgan Stanley boosted their price objective on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $568.31.

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.