Groesbeck Investment Management Corp NJ Sells 367 Shares of Lockheed Martin Co. (NYSE:LMT)

Groesbeck Investment Management Corp NJ cut its position in shares of Lockheed Martin Co. (NYSE:LMT) by 34.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 696 shares of the aerospace company’s stock after selling 367 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in Lockheed Martin were worth $407,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LMT. Ameriprise Financial Inc. lifted its holdings in Lockheed Martin by 1.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after purchasing an additional 31,545 shares during the last quarter. International Assets Investment Management LLC grew its position in Lockheed Martin by 60,592.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after acquiring an additional 1,556,609 shares during the last quarter. Legal & General Group Plc grew its position in Lockheed Martin by 14.9% during the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after acquiring an additional 180,074 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Lockheed Martin by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock worth $546,144,000 after buying an additional 119,052 shares during the period. Finally, Wulff Hansen & CO. lifted its holdings in Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after buying an additional 1,019,281 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Down 0.3 %

NYSE LMT traded down $1.92 during mid-day trading on Friday, reaching $562.29. The stock had a trading volume of 1,077,563 shares, compared to its average volume of 1,054,995. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The stock has a market cap of $134.03 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 4.62 and a beta of 0.47. The company has a fifty day moving average price of $580.07 and a 200 day moving average price of $514.62. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.07.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same period in the previous year, the business earned $6.77 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, research analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is 45.62%.

Analyst Upgrades and Downgrades

LMT has been the topic of a number of research reports. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research note on Tuesday, September 3rd. Melius Research raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Royal Bank of Canada reduced their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday. Robert W. Baird increased their target price on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday. Finally, Morgan Stanley increased their price objective on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.