RDA Financial Network Trims Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

RDA Financial Network cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 3.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,526 shares of the aerospace company’s stock after selling 128 shares during the quarter. RDA Financial Network’s holdings in Lockheed Martin were worth $2,061,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Watershed Private Wealth LLC bought a new position in Lockheed Martin during the 3rd quarter valued at $226,000. Members Trust Co bought a new position in shares of Lockheed Martin during the third quarter worth about $205,000. Occidental Asset Management LLC grew its stake in Lockheed Martin by 21.8% in the third quarter. Occidental Asset Management LLC now owns 932 shares of the aerospace company’s stock worth $545,000 after purchasing an additional 167 shares in the last quarter. Cornell Pochily Investment Advisors Inc. increased its holdings in Lockheed Martin by 5.5% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 2,965 shares of the aerospace company’s stock valued at $1,733,000 after buying an additional 155 shares during the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC acquired a new stake in Lockheed Martin during the third quarter valued at approximately $332,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LMT has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their price target on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Barclays increased their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. UBS Group boosted their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Bank of America reaffirmed a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $587.15.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Price Performance

Shares of NYSE:LMT traded down $5.82 during trading on Tuesday, reaching $605.05. The stock had a trading volume of 475,311 shares, compared to its average volume of 1,050,875. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The stock has a market capitalization of $145.17 billion, a PE ratio of 22.22, a P/E/G ratio of 4.84 and a beta of 0.47. The business’s 50-day moving average price is $573.36 and its 200 day moving average price is $506.67. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $614.62.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $6.73 EPS. As a group, equities analysts predict that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business 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 dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.18%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is presently 48.30%.

Lockheed Martin 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.