Grassi Investment Management Decreases Stake in Lockheed Martin Co. (NYSE:LMT)

Grassi Investment Management lowered its position in shares of Lockheed Martin Co. (NYSE:LMT) by 0.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 25,837 shares of the aerospace company’s stock after selling 30 shares during the quarter. Lockheed Martin comprises approximately 1.3% of Grassi Investment Management’s holdings, making the stock its 17th largest holding. Grassi Investment Management’s holdings in Lockheed Martin were worth $15,103,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Burkett Financial Services LLC purchased a new position in Lockheed Martin in the 3rd quarter worth approximately $32,000. Mattson Financial Services LLC acquired a new stake in Lockheed Martin in the second quarter valued at $27,000. Sachetta LLC boosted its stake in 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 acquiring an additional 20 shares during the last quarter. Wiser Advisor Group LLC grew its holdings in 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 acquiring an additional 25 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Lockheed Martin in the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $571.10 on Thursday. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The firm has a 50-day moving average of $579.95 and a two-hundred day moving average of $513.50. The company has a market capitalization of $137.03 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the firm posted $6.77 earnings per share. As a group, analysts expect that Lockheed Martin Co. will post 26.68 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business 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. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.31%. Lockheed Martin’s payout ratio is 48.30%.

Analyst Ratings Changes

Several brokerages recently weighed in on LMT. Royal Bank of Canada lowered their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday. Citigroup upped their price target on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. TD Cowen lifted their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a report on Tuesday, September 3rd. Finally, Susquehanna decreased their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $606.71.

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.