Novare Capital Management LLC Sells 199 Shares of Lockheed Martin Co. (NYSE:LMT)

Novare Capital Management LLC decreased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,309 shares of the aerospace company’s stock after selling 199 shares during the period. Novare Capital Management LLC’s holdings in Lockheed Martin were worth $1,350,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC boosted its position in shares of Lockheed Martin by 1.1% during the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after acquiring an additional 17 shares during the last quarter. HTLF Bank lifted its position in Lockheed Martin by 3.7% during the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after purchasing an additional 20 shares during the last quarter. tru Independence LLC grew its stake in Lockheed Martin by 2.5% in the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock worth $386,000 after buying an additional 20 shares in the last quarter. Sachetta LLC increased its holdings in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. Finally, Twin Lakes Capital Management LLC raised its position in shares of Lockheed Martin by 1.3% during the 2nd quarter. Twin Lakes Capital Management LLC now owns 1,527 shares of the aerospace company’s stock valued at $713,000 after buying an additional 20 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.17% of the stock is owned by company insiders.

Lockheed Martin Stock Up 0.4 %

Shares of NYSE LMT traded up $2.18 on Monday, reaching $606.35. 103,947 shares of the company’s stock traded hands, compared to its average volume of 1,051,467. The business’s 50 day simple moving average is $572.03 and its two-hundred day simple moving average is $505.57. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $611.59. The company has a market cap of $145.49 billion, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same quarter last year, the company earned $6.73 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities research analysts forecast that Lockheed Martin Co. will post 26.68 EPS for the current fiscal 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 given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.18%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is 48.30%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LMT. Susquehanna upped their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Royal Bank of Canada upped their price objective on Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Wells Fargo & Company raised their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, UBS Group increased their price objective on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $587.15.

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.