Keynote Financial Services LLC Sells 100 Shares of Lockheed Martin Co. (NYSE:LMT)

by · The Markets Daily

Keynote Financial Services LLC reduced its holdings in shares of Lockheed Martin Co. (NYSE:LMT – Free Report) by 6.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,561 shares of the aerospace company’s stock after selling 100 shares during the period. Keynote Financial Services LLC’s holdings in Lockheed Martin were worth $912,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of LMT. GAMMA Investing LLC lifted its stake in shares of Lockheed Martin by 130.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after buying an additional 2,019 shares in the last quarter. Buck Wealth Strategies LLC bought a new stake in Lockheed Martin in the second quarter worth $6,611,000. Old West Investment Management LLC raised its stake in Lockheed Martin by 6.6% during the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after purchasing an additional 1,643 shares in the last quarter. McAdam LLC lifted its position in Lockheed Martin by 101.7% during the third quarter. McAdam LLC now owns 1,178 shares of the aerospace company’s stock valued at $689,000 after purchasing an additional 594 shares during the last quarter. Finally, Financial Enhancement Group LLC grew its stake in shares of Lockheed Martin by 2,268.3% in the 3rd quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock worth $6,105,000 after buying an additional 10,003 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on LMT. JPMorgan Chase & Co. increased their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Barclays raised their price objective on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Bank of America restated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. Finally, Citigroup boosted their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. One 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Read Our Latest Report on LMT

Lockheed Martin Stock Performance

LMT stock opened at $551.98 on Friday. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The business has a 50-day moving average price of $578.42 and a 200 day moving average price of $520.28. The company has a market capitalization of $130.84 billion, a P/E ratio of 19.98, a PEG ratio of 4.44 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

Lockheed Martin (NYSE:LMT – Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $6.77 earnings per share. As a group, equities research analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.39%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is presently 45.62%.

About Lockheed Martin

(Free Report)

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.

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