Intellectus Partners LLC Cuts Stake in Lockheed Martin Co. (NYSE:LMT)

Intellectus Partners LLC reduced its holdings in Lockheed Martin Co. (NYSE:LMT) by 9.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,727 shares of the aerospace company’s stock after selling 995 shares during the period. Lockheed Martin makes up 1.5% of Intellectus Partners LLC’s portfolio, making the stock its 12th largest holding. Intellectus Partners LLC’s holdings in Lockheed Martin were worth $5,686,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in LMT. Blair William & Co. IL raised its stake in Lockheed Martin by 8.8% in the first quarter. Blair William & Co. IL now owns 31,819 shares of the aerospace company’s stock valued at $14,474,000 after buying an additional 2,563 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Lockheed Martin by 27.9% in the 1st quarter. Intech Investment Management LLC now owns 64,208 shares of the aerospace company’s stock valued at $29,206,000 after purchasing an additional 14,018 shares during the period. Spirepoint Private Client LLC acquired a new position in shares of Lockheed Martin in the first quarter worth about $6,591,000. TIAA Trust National Association grew its stake in Lockheed Martin by 3.5% in the 1st quarter. TIAA Trust National Association now owns 9,811 shares of the aerospace company’s stock valued at $4,463,000 after acquiring an additional 334 shares during the period. Finally, Ontario Teachers Pension Plan Board purchased a new position in Lockheed Martin during the first quarter valued at $2,325,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Trading Down 3.4 %

Shares of LMT stock opened at $539.04 on Friday. The company has a 50 day moving average price of $577.75 and a 200 day moving average price of $523.80. The stock has a market capitalization of $127.77 billion, a P/E ratio of 19.52, a price-to-earnings-growth ratio of 4.56 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The company 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.77 EPS. Equities research analysts predict 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. 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 2.45%. The ex-dividend date is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 45.62%.

Wall Street Analysts Forecast Growth

Several research firms have commented on LMT. Citigroup boosted their price objective on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Bank of America reissued a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. UBS Group boosted their target price on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, TD Cowen increased their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.