Proficio Capital Partners LLC Sells 814 Shares of Lockheed Martin Co. (NYSE:LMT)

Proficio Capital Partners LLC cut its position in shares of Lockheed Martin Co. (NYSE:LMT) by 26.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,293 shares of the aerospace company’s stock after selling 814 shares during the period. Proficio Capital Partners LLC’s holdings in Lockheed Martin were worth $1,340,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Mattson Financial Services LLC bought a new stake in Lockheed Martin in the 2nd quarter valued at $27,000. Sachetta LLC increased its stake in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares during the period. Wiser Advisor Group LLC increased its stake in Lockheed Martin by 65.8% in the first 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 during the period. Edmond DE Rothschild Holding S.A. acquired a new position in Lockheed Martin in the first quarter worth about $30,000. Finally, Stephens Consulting LLC lifted its stake in Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LMT. Robert W. Baird increased their target price on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Royal Bank of Canada dropped their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Citigroup lifted their price objective on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. upped their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Susquehanna dropped their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Up 2.3 %

NYSE:LMT opened at $564.56 on Friday. The stock’s fifty day moving average price is $578.06 and its two-hundred day moving average price is $521.21. The company has a market cap of $133.82 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 4.51 and a beta of 0.49. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.77 earnings per share. On average, analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.34%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is 47.79%.

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.