SevenBridge Financial Group LLC Lowers Stock Position in Lockheed Martin Corporation $LMT

SevenBridge Financial Group LLC trimmed its position in Lockheed Martin Corporation (NYSE:LMT) by 20.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,383 shares of the aerospace company’s stock after selling 852 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Lockheed Martin were worth $1,546,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Carnegie Investment Counsel raised its stake in Lockheed Martin by 11.4% during the third quarter. Carnegie Investment Counsel now owns 29,639 shares of the aerospace company’s stock valued at $14,796,000 after purchasing an additional 3,031 shares in the last quarter. VCI Wealth Management LLC purchased a new position in shares of Lockheed Martin in the 3rd quarter worth $3,075,000. DAVENPORT & Co LLC increased its holdings in shares of Lockheed Martin by 22.4% in the 3rd quarter. DAVENPORT & Co LLC now owns 25,423 shares of the aerospace company’s stock worth $12,688,000 after buying an additional 4,652 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Lockheed Martin by 29.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 10,036 shares of the aerospace company’s stock worth $5,010,000 after buying an additional 2,270 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in shares of Lockheed Martin by 9.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 39,410 shares of the aerospace company’s stock valued at $19,674,000 after buying an additional 3,352 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.3%

Shares of NYSE LMT opened at $649.28 on Thursday. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $692.00. The firm has a market capitalization of $149.39 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 1.17 and a beta of 0.22. The stock has a 50 day moving average price of $610.16 and a 200 day moving average price of $522.53. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.94 and a current ratio of 1.09.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Thursday, January 29th. The aerospace company reported $5.80 EPS 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 firm had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the previous year, the business earned $7.67 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. Sell-side analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company 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 dividend yield of 2.1%. The ex-dividend date is Monday, March 2nd. Lockheed Martin’s payout ratio is presently 64.22%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LMT. Susquehanna reaffirmed a “positive” rating and issued a $660.00 price target on shares of Lockheed Martin in a report on Thursday, January 15th. Royal Bank Of Canada upped their price objective on Lockheed Martin from $615.00 to $650.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. DZ Bank lowered Lockheed Martin from a “buy” rating to a “hold” rating and set a $665.00 price objective for the company. in a research note on Tuesday, February 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on Lockheed Martin from $492.00 to $611.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Finally, Robert W. Baird lifted their target price on Lockheed Martin from $550.00 to $640.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. Six research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $618.95.

Lockheed Martin Company 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.