Principal Street Partners LLC Has $7.28 Million Stake in Lockheed Martin Co. (NYSE:LMT)

Principal Street Partners LLC reduced its holdings in Lockheed Martin Co. (NYSE:LMT) by 18.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,722 shares of the aerospace company’s stock after selling 2,822 shares during the quarter. Lockheed Martin comprises 1.2% of Principal Street Partners LLC’s holdings, making the stock its 12th biggest holding. Principal Street Partners LLC’s holdings in Lockheed Martin were worth $7,283,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in Lockheed Martin by 60,592.0% during the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after buying an additional 1,556,609 shares during the last quarter. Wulff Hansen & CO. grew its position in shares of 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 acquiring an additional 1,019,281 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of Lockheed Martin by 124.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after purchasing an additional 249,591 shares during the last quarter. FMR LLC raised its holdings in shares of Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after purchasing an additional 209,591 shares during the period. Finally, Legal & General Group Plc grew its holdings in Lockheed Martin by 14.9% during the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after purchasing an additional 180,074 shares during the period. 74.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LMT. Deutsche Bank Aktiengesellschaft upped their price objective on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Melius Research raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Barclays lifted their price objective on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Morgan Stanley increased their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Finally, Citigroup lifted their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have given 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 presently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Down 0.3 %

Shares of LMT opened at $520.40 on Tuesday. 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 stock has a market capitalization of $123.36 billion, a PE ratio of 18.90, a P/E/G ratio of 4.43 and a beta of 0.49. The firm’s 50 day moving average is $572.10 and its 200-day moving average is $528.17. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95.

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

Lockheed Martin Increases Dividend

The company 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. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.54%. Lockheed Martin’s dividend payout ratio is currently 45.62%.

Lockheed Martin 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.