Kingfisher Capital LLC Sells 316 Shares of Lockheed Martin Co. (NYSE:LMT)

Kingfisher Capital LLC cut its position in Lockheed Martin Co. (NYSE:LMT) by 3.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,003 shares of the aerospace company’s stock after selling 316 shares during the period. Kingfisher Capital LLC’s holdings in Lockheed Martin were worth $4,678,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Burkett Financial Services LLC acquired a new stake in Lockheed Martin in the third quarter valued at $32,000. Mattson Financial Services LLC bought a new stake in shares of Lockheed Martin in the 2nd quarter valued at about $27,000. Sachetta LLC lifted its stake in Lockheed Martin by 50.0% in the 2nd 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 last quarter. Stephens Consulting LLC grew its holdings in Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in Lockheed Martin during the third quarter worth approximately $40,000. 74.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. UBS Group raised their price objective on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Morgan Stanley raised 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. Robert W. Baird lifted their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price objective on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada reduced their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $525.75 on Friday. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The company’s 50 day moving average price is $569.60 and its two-hundred day moving average price is $528.50. The firm has a market cap of $124.62 billion, a PE ratio of 19.04, a PEG ratio of 4.29 and a beta of 0.49. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results 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. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.77 earnings per share. Equities research analysts predict that Lockheed Martin Co. will post 26.94 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.51%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is presently 45.62%.

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.