Lockheed Martin Co. (NYSE:LMT) is Bedell Frazier Investment Counselling LLC’s 3rd Largest Position

Bedell Frazier Investment Counselling LLC lessened its position in Lockheed Martin Co. (NYSE:LMT) by 3.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,024 shares of the aerospace company’s stock after selling 1,110 shares during the quarter. Lockheed Martin makes up about 3.9% of Bedell Frazier Investment Counselling LLC’s holdings, making the stock its 3rd biggest holding. Bedell Frazier Investment Counselling LLC’s holdings in Lockheed Martin were worth $16,382,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. grew its stake in Lockheed Martin by 1.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after buying an additional 31,545 shares during the last quarter. International Assets Investment Management LLC grew its stake in Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after buying an additional 1,556,609 shares during the last quarter. Legal & General Group Plc grew its stake in Lockheed Martin by 14.9% in the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after buying an additional 180,074 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Lockheed Martin by 11.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock valued at $546,144,000 after buying an additional 119,052 shares during the last quarter. Finally, Wulff Hansen & CO. grew its stake in Lockheed Martin by 56,626.7% in the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after buying an additional 1,019,281 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 0.0 %

Shares of NYSE LMT opened at $542.22 on Monday. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The company has a market cap of $128.53 billion, a PE ratio of 19.63, a P/E/G ratio of 4.43 and a beta of 0.49. 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 company has a 50-day moving average of $573.12 and a two-hundred day moving average of $527.79.

Lockheed Martin (NYSE:LMT) last posted its quarterly 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 business had revenue of $17.10 billion during 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%. Lockheed Martin’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.77 earnings per share. As a group, equities analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.43%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is 45.62%.

Wall Street Analyst Weigh In

Several research firms have issued reports on LMT. TD Cowen raised their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Citigroup lifted their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and an average price target of $611.00.

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.