Sitrin Capital Management LLC Sells 26 Shares of Lockheed Martin Co. (NYSE:LMT)

Sitrin Capital Management LLC trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 0.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,330 shares of the aerospace company’s stock after selling 26 shares during the quarter. Lockheed Martin comprises about 2.7% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 21st biggest position. Sitrin Capital Management LLC’s holdings in Lockheed Martin were worth $5,454,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LMT. Creative Financial Designs Inc. ADV increased its stake in Lockheed Martin by 8.8% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 4,401 shares of the aerospace company’s stock worth $2,573,000 after acquiring an additional 356 shares during the last quarter. Pursue Wealth Partners LLC purchased a new position in shares of Lockheed Martin in the third quarter valued at $493,000. Hills Bank & Trust Co increased its position in Lockheed Martin by 3.3% in the third quarter. Hills Bank & Trust Co now owns 628 shares of the aerospace company’s stock worth $367,000 after purchasing an additional 20 shares during the last quarter. Stephens Inc. AR raised its stake in Lockheed Martin by 2.6% during the third quarter. Stephens Inc. AR now owns 31,911 shares of the aerospace company’s stock valued at $18,654,000 after purchasing an additional 805 shares in the last quarter. Finally, Pacific Wealth Strategies Group Inc. lifted its position in Lockheed Martin by 3.9% during the third quarter. Pacific Wealth Strategies Group Inc. now owns 2,998 shares of the aerospace company’s stock valued at $1,753,000 after purchasing an additional 113 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Trading Up 0.3 %

LMT traded up $1.91 on Friday, reaching $547.96. 166,303 shares of the company traded hands, compared to its average volume of 1,052,362. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The company has a market cap of $129.89 billion, a P/E ratio of 19.88, a price-to-earnings-growth ratio of 4.47 and a beta of 0.47. The firm has a fifty day simple moving average of $579.44 and a two-hundred day simple moving average of $517.34. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion during 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%. Lockheed Martin’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.77 earnings per share. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.89 earnings per share 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 issued a $3.30 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is presently 45.62%.

Analyst Ratings Changes

LMT has been the topic of several recent research reports. UBS Group upped their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Susquehanna lowered their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday, October 23rd. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research report on Tuesday, September 3rd. StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley boosted 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average 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.