Lockheed Martin Co. (NYSE:LMT) Shares Sold by Cobblestone Capital Advisors LLC NY

Cobblestone Capital Advisors LLC NY lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 1.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,985 shares of the aerospace company’s stock after selling 77 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Lockheed Martin were worth $2,329,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Widmann Financial Services Inc. grew its holdings in Lockheed Martin by 2.1% during the third quarter. Widmann Financial Services Inc. now owns 968 shares of the aerospace company’s stock worth $566,000 after acquiring an additional 20 shares during the period. Encompass More Asset Management purchased a new stake in shares of Lockheed Martin during the third quarter valued at $205,000. Edgestream Partners L.P. boosted its position in shares of Lockheed Martin by 15.7% in the 3rd quarter. Edgestream Partners L.P. now owns 3,667 shares of the aerospace company’s stock valued at $2,144,000 after purchasing an additional 497 shares during the period. L.M. Kohn & Company boosted its holdings in shares of Lockheed Martin by 2.8% in the third quarter. L.M. Kohn & Company now owns 4,509 shares of the aerospace company’s stock worth $2,636,000 after buying an additional 124 shares during the period. Finally, Firsthand Capital Management Inc. acquired a new position in Lockheed Martin in the 3rd quarter worth approximately $1,169,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Up 0.7 %

LMT opened at $529.41 on Friday. The firm’s fifty day moving average price is $568.75 and its two-hundred day moving average price is $529.34. The company has a market capitalization of $125.49 billion, a P/E ratio of 19.17, a P/E/G ratio of 4.32 and a beta of 0.49. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the company earned $6.77 EPS. Lockheed Martin’s revenue was up 1.3% on a year-over-year basis. On average, analysts anticipate that Lockheed Martin Co. will post 26.94 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.49%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 45.62%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. Susquehanna reduced their price target on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. UBS Group increased their price objective on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, TD Cowen lifted their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus 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.