Lockheed Martin Co. (NYSE:LMT) Stake Lessened by Sanders Morris Harris LLC

Sanders Morris Harris LLC cut its stake in Lockheed Martin Co. (NYSE:LMT) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,809 shares of the aerospace company’s stock after selling 45 shares during the period. Sanders Morris Harris LLC’s holdings in Lockheed Martin were worth $1,057,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Kelly Financial Services LLC boosted its holdings in Lockheed Martin by 6.4% during the third quarter. Kelly Financial Services LLC now owns 1,287 shares of the aerospace company’s stock worth $752,000 after buying an additional 77 shares in the last quarter. USA Financial Formulas bought a new stake in Lockheed Martin during the third quarter worth approximately $233,000. High Note Wealth LLC boosted its holdings in Lockheed Martin by 2.5% during the third quarter. High Note Wealth LLC now owns 4,760 shares of the aerospace company’s stock worth $2,783,000 after buying an additional 117 shares in the last quarter. Patten Group Inc. boosted its holdings in Lockheed Martin by 5.1% during the third quarter. Patten Group Inc. now owns 2,593 shares of the aerospace company’s stock worth $1,516,000 after buying an additional 126 shares in the last quarter. Finally, Wedmont Private Capital boosted its holdings in Lockheed Martin by 10.5% during the third quarter. Wedmont Private Capital now owns 2,893 shares of the aerospace company’s stock worth $1,752,000 after buying an additional 274 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Performance

NYSE:LMT opened at $605.12 on Thursday. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $611.59. The firm’s fifty day simple moving average is $569.95 and its 200 day simple moving average is $503.06. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $145.19 billion, a PE ratio of 22.14, a PEG ratio of 4.66 and a beta of 0.47.

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

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.18%. This is a positive change 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 currently 48.30%.

Insiders Place Their Bets

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on LMT shares. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. UBS Group upped their price target on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Barclays increased their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $568.31.

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.