Lockheed Martin Corporation $LMT Shares Sold by Summitry LLC

Summitry LLC decreased its stake in Lockheed Martin Corporation (NYSE:LMT) by 96.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 451 shares of the aerospace company’s stock after selling 12,442 shares during the quarter. Summitry LLC’s holdings in Lockheed Martin were worth $225,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Old North State Wealth Management LLC increased its stake in Lockheed Martin by 2.0% during the 3rd quarter. Old North State Wealth Management LLC now owns 1,073 shares of the aerospace company’s stock worth $539,000 after buying an additional 21 shares in the last quarter. GS Investments Inc. increased its position in shares of Lockheed Martin by 1.0% during the third quarter. GS Investments Inc. now owns 2,231 shares of the aerospace company’s stock worth $1,114,000 after purchasing an additional 22 shares in the last quarter. Barnes Wealth Management Group Inc raised its stake in Lockheed Martin by 4.2% in the 2nd quarter. Barnes Wealth Management Group Inc now owns 567 shares of the aerospace company’s stock valued at $263,000 after purchasing an additional 23 shares during the last quarter. Collective Family Office LLC lifted its holdings in Lockheed Martin by 4.6% in the 3rd quarter. Collective Family Office LLC now owns 527 shares of the aerospace company’s stock valued at $263,000 after purchasing an additional 23 shares in the last quarter. Finally, Financial Partners Group Inc boosted its stake in Lockheed Martin by 4.3% during the 3rd quarter. Financial Partners Group Inc now owns 555 shares of the aerospace company’s stock worth $277,000 after purchasing an additional 23 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

LMT has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. Wall Street Zen cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 8th. Jefferies Financial Group raised their target price on shares of Lockheed Martin from $540.00 to $630.00 and gave the stock a “hold” rating in a research note on Sunday, February 1st. Citigroup boosted their target price on Lockheed Martin from $592.00 to $673.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Finally, Morgan Stanley set a $675.00 price target on Lockheed Martin in a report on Wednesday, February 4th. Six investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $612.50.

Lockheed Martin Stock Up 2.3%

Shares of NYSE LMT opened at $652.41 on Tuesday. The company has a market capitalization of $150.11 billion, a P/E ratio of 30.36, a P/E/G ratio of 1.18 and a beta of 0.23. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.09 and a quick ratio of 0.94. The company has a 50 day simple moving average of $549.18 and a 200-day simple moving average of $496.37. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $656.34.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Thursday, January 29th. The aerospace company reported $5.80 earnings per share for the quarter, missing the consensus estimate of $6.33 by ($0.53). Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The business had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the previous year, the company posted $7.67 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. On average, equities research analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 2nd will be issued a $3.45 dividend. This represents a $13.80 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, March 2nd. Lockheed Martin’s payout ratio is 64.22%.

Lockheed Martin Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.