Semmax Financial Advisors Inc. Decreases Position in Lockheed Martin Co. (NYSE:LMT)

Semmax Financial Advisors Inc. trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT) by 19.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 771 shares of the aerospace company’s stock after selling 182 shares during the quarter. Semmax Financial Advisors Inc.’s holdings in Lockheed Martin were worth $436,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Bank of Montreal Can grew its position in Lockheed Martin by 2.1% in the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after acquiring an additional 13,253 shares during the last quarter. Old West Investment Management LLC raised its position in Lockheed Martin by 6.6% during the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after purchasing an additional 1,643 shares in the last quarter. Empower Advisory Group LLC lifted its holdings in shares of Lockheed Martin by 9.1% in the 3rd quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock worth $12,870,000 after buying an additional 1,843 shares during the period. Buck Wealth Strategies LLC bought a new position in shares of Lockheed Martin during the 2nd quarter worth $6,611,000. Finally, Financial Enhancement Group LLC increased its stake in shares of Lockheed Martin by 2,268.3% during the third quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock valued at $6,105,000 after buying an additional 10,003 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Up 0.7 %

LMT stock opened at $529.41 on Friday. The stock has a market capitalization of $125.49 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 4.32 and a beta of 0.49. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. 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 firm has a 50 day moving average of $568.75 and a 200 day moving average of $529.34.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating 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 net margin of 9.36% and a return on equity of 101.44%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $6.77 earnings per share. Sell-side analysts forecast that Lockheed Martin Co. will post 26.94 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.49%. Lockheed Martin’s payout ratio is 45.62%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. TD Cowen increased their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. UBS Group lifted their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their target price on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Morgan Stanley lifted their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Finally, Susquehanna decreased 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and an average price target 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.