Birchcreek Wealth Management LLC Sells 29 Shares of Lockheed Martin Co. (NYSE:LMT)

Birchcreek Wealth Management LLC cut its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 865 shares of the aerospace company’s stock after selling 29 shares during the period. Birchcreek Wealth Management LLC’s holdings in Lockheed Martin were worth $506,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Empirical Finance LLC grew its holdings in Lockheed Martin by 1.6% during the 3rd quarter. Empirical Finance LLC now owns 7,802 shares of the aerospace company’s stock valued at $4,561,000 after buying an additional 124 shares in the last quarter. Dearborn Partners LLC boosted its stake in Lockheed Martin by 2.3% in the third quarter. Dearborn Partners LLC now owns 2,311 shares of the aerospace company’s stock worth $1,351,000 after buying an additional 52 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Lockheed Martin by 4.5% in the third quarter. CIBC Asset Management Inc now owns 46,497 shares of the aerospace company’s stock worth $27,180,000 after buying an additional 1,987 shares in the last quarter. Balboa Wealth Partners boosted its stake in Lockheed Martin by 13.3% in the third quarter. Balboa Wealth Partners now owns 1,556 shares of the aerospace company’s stock worth $909,000 after buying an additional 183 shares in the last quarter. Finally, Oak Harbor Wealth Partners LLC lifted its position in Lockheed Martin by 15.6% in the third quarter. Oak Harbor Wealth Partners LLC now owns 1,046 shares of the aerospace company’s stock valued at $611,000 after purchasing an additional 141 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LMT has been the subject of a number of recent analyst reports. TD Cowen upped their target price on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Morgan Stanley boosted their price target on 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, Lockheed Martin has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Performance

Shares of LMT stock traded up $2.69 during mid-day trading on Friday, reaching $541.68. The stock had a trading volume of 134,379 shares, compared to its average volume of 1,056,106. The business’s fifty day moving average is $577.16 and its 200-day moving average is $523.91. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The firm has a market cap of $128.40 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 4.56 and a beta of 0.49. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the business posted $6.77 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, research analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.44%. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is 45.62%.

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.