GLOBALT Investments LLC GA Sells 234 Shares of Lockheed Martin Co. (NYSE:LMT)

GLOBALT Investments LLC GA reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 2.0% during the third quarter, HoldingsChannel.com reports. The firm owned 11,292 shares of the aerospace company’s stock after selling 234 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Lockheed Martin were worth $6,601,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in LMT. Mattson Financial Services LLC bought a new stake in shares of Lockheed Martin in the 2nd quarter worth approximately $27,000. Sachetta LLC raised its holdings in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares during the last quarter. Wiser Advisor Group LLC raised its holdings in Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 25 shares during the last quarter. Stephens Consulting LLC raised its holdings in 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 acquiring an additional 22 shares during the last quarter. Finally, Burkett Financial Services LLC purchased a new position in Lockheed Martin in the 3rd quarter worth approximately $32,000. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Down 0.8 %

LMT opened at $534.83 on Monday. The firm has a 50-day simple moving average of $576.52 and a two-hundred day simple moving average of $525.23. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The company has a market capitalization of $126.77 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 4.37 and a beta of 0.49. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last announced its 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 firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $6.77 EPS. Analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 dividend yield of 2.47%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is currently 47.79%.

Analysts Set New Price Targets

LMT has been the subject of a number of recent analyst reports. Barclays boosted their price objective on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. TD Cowen boosted their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. 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 boosted their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Company 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.