Mine & Arao Wealth Creation & Management LLC. Trims Stock Position in Lockheed Martin Co. (NYSE:LMT)

Mine & Arao Wealth Creation & Management LLC. lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 4.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 485 shares of the aerospace company’s stock after selling 20 shares during the period. Mine & Arao Wealth Creation & Management LLC.’s holdings in Lockheed Martin were worth $284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Burkett Financial Services LLC purchased a new stake in Lockheed Martin in the 3rd quarter valued at $32,000. Mattson Financial Services LLC purchased a new position in Lockheed Martin during the 2nd quarter worth $27,000. Sachetta LLC increased its stake in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the period. Wiser Advisor Group LLC raised its holdings in shares of Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after buying an additional 25 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Lockheed Martin during the first quarter worth about $30,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LMT. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research report on Tuesday, September 3rd. Susquehanna decreased their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. TD Cowen upped their target price 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. Deutsche Bank Aktiengesellschaft lifted their price target 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, Robert W. Baird raised their price target on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Up 0.0 %

Lockheed Martin stock opened at $551.98 on Friday. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The firm has a market cap of $130.84 billion, a PE ratio of 19.98, a P/E/G ratio of 4.44 and a beta of 0.49. The firm’s 50 day moving average price is $578.42 and its two-hundred day moving average price is $520.28.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the prior year, the company posted $6.77 earnings per share. Lockheed Martin’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, 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 declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.39%. Lockheed Martin’s dividend 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.