Grimes & Company Inc. Sells 2,949 Shares of Lockheed Martin Co. (NYSE:LMT)

Grimes & Company Inc. lowered its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 16.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 15,270 shares of the aerospace company’s stock after selling 2,949 shares during the quarter. Grimes & Company Inc.’s holdings in Lockheed Martin were worth $8,926,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LMT. CVA Family Office LLC increased its stake in Lockheed Martin by 1.1% in the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after buying an additional 17 shares during the period. Quad Cities Investment Group LLC increased its position in Lockheed Martin by 1.2% during the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after purchasing an additional 19 shares during the period. HTLF Bank boosted its holdings in shares of Lockheed Martin by 3.7% in the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after buying an additional 20 shares in the last quarter. tru Independence LLC boosted its holdings in shares of Lockheed Martin by 2.5% in the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after buying an additional 20 shares in the last quarter. Finally, Sachetta LLC boosted its stake in 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 purchasing an additional 20 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded up $1.56 during trading hours on Thursday, reaching $572.66. 159,875 shares of the company’s stock were exchanged, compared to its average volume of 1,049,973. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The company has a market capitalization of $137.40 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The business has a fifty day moving average of $579.95 and a two-hundred day moving average of $513.50. 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 released its 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. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the prior year, the firm earned $6.77 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, research analysts predict that Lockheed Martin Co. will post 26.68 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.31%. Lockheed Martin’s payout ratio is presently 48.30%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. lifted their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley lifted their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company lifted their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, four have assigned 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $606.71.

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.