Turtle Creek Wealth Advisors LLC Cuts Holdings in Lockheed Martin Co. (NYSE:LMT)

Turtle Creek Wealth Advisors LLC decreased its position in Lockheed Martin Co. (NYSE:LMT) by 5.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 881 shares of the aerospace company’s stock after selling 53 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Lockheed Martin were worth $515,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of LMT. Mattson Financial Services LLC bought a new stake in Lockheed Martin during the second quarter worth $27,000. Sachetta LLC increased its position in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC raised its stake in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the period. Stephens Consulting LLC boosted its holdings in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares during the last quarter. Finally, Burkett Financial Services LLC bought a new position in Lockheed Martin during the third quarter valued at about $32,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

LMT stock traded down $4.16 during mid-day trading on Friday, hitting $534.83. 1,757,312 shares of the stock were exchanged, compared to its average volume of 1,063,416. The business has a fifty day moving average price of $576.52 and a 200 day moving average price of $524.37. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The stock has a market capitalization of $126.78 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 4.56 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion during 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%. Lockheed Martin’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.77 earnings per share. On average, sell-side 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. Shareholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.47%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 45.62%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LMT shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. UBS Group raised their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Robert W. Baird lifted their price target on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Melius Research raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Morgan Stanley increased their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $611.00.

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.