Hodges Capital Management Inc. reduced its position in Lockheed Martin Co. (NYSE:LMT) by 9.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,247 shares of the aerospace company’s stock after selling 125 shares during the quarter. Hodges Capital Management Inc.’s holdings in Lockheed Martin were worth $478,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Bay Harbor Wealth Management LLC bought a new stake in shares of Lockheed Martin in the 1st quarter valued at $25,000. Lenox Wealth Advisors LLC boosted its stake in shares of Lockheed Martin by 140.5% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 101 shares of the aerospace company’s stock valued at $39,000 after purchasing an additional 59 shares during the last quarter. Proffitt & Goodson Inc. lifted its position in shares of Lockheed Martin by 58.2% during the 2nd quarter. Proffitt & Goodson Inc. now owns 106 shares of the aerospace company’s stock valued at $39,000 after acquiring an additional 39 shares during the period. Hoover Financial Advisors Inc. acquired a new position in shares of Lockheed Martin during the 2nd quarter valued at $45,000. Finally, Fred Alger Management LLC lifted its position in shares of Lockheed Martin by 51.2% during the 1st quarter. Fred Alger Management LLC now owns 127 shares of the aerospace company’s stock valued at $43,000 after acquiring an additional 43 shares during the period. 77.56% of the stock is currently owned by institutional investors.
LMT has been the topic of a number of research reports. Bank of America boosted their target price on shares of Lockheed Martin from $400.00 to $500.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. ValuEngine upgraded shares of Lockheed Martin from a “sell” rating to a “hold” rating in a research report on Wednesday, August 26th. Goldman Sachs Group downgraded shares of Lockheed Martin from a “conviction-buy” rating to a “buy” rating in a research report on Sunday, September 20th. Royal Bank of Canada dropped their target price on shares of Lockheed Martin from $410.00 to $404.00 in a research report on Friday, July 17th. Finally, Credit Suisse Group lowered their price objective on shares of Lockheed Martin from $433.00 to $400.00 and set a “hold” rating on the stock in a report on Friday, July 17th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Lockheed Martin currently has a consensus rating of “Buy” and a consensus price target of $450.59.
Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 21st. The aerospace company reported $5.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.72 by $0.07. The company had revenue of $16.22 billion during the quarter, compared to the consensus estimate of $15.19 billion. Lockheed Martin had a net margin of 10.25% and a return on equity of 182.05%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.00 earnings per share. As a group, research analysts expect that Lockheed Martin Co. will post 24.52 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Tuesday, December 1st will be issued a $2.60 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $10.40 annualized dividend and a dividend yield of 2.69%. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.40. Lockheed Martin’s dividend payout ratio is currently 43.74%.
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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space Systems.
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