Orion Portfolio Solutions LLC Sells 2,483 Shares of Lockheed Martin Co. (NYSE:LMT)

Orion Portfolio Solutions LLC reduced its position in shares of Lockheed Martin Co. (NYSE:LMT) by 13.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 15,954 shares of the aerospace company’s stock after selling 2,483 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Lockheed Martin were worth $9,326,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new stake in shares of Lockheed Martin during the third quarter worth approximately $447,000. Zacks Investment Management grew its holdings in Lockheed Martin by 37.8% during the 3rd quarter. Zacks Investment Management now owns 148,805 shares of the aerospace company’s stock worth $86,986,000 after acquiring an additional 40,812 shares during the period. Zurich Insurance Group Ltd FI raised its position in shares of Lockheed Martin by 2,098.8% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 98,944 shares of the aerospace company’s stock valued at $57,839,000 after acquiring an additional 94,444 shares during the last quarter. DF Dent & Co. Inc. acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at $229,000. Finally, Goldstream Capital Management Ltd bought a new position in shares of Lockheed Martin in the 3rd quarter worth $1,010,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

LMT opened at $513.03 on Friday. The company has a market capitalization of $121.61 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 4.22 and a beta of 0.46. The business’s 50-day moving average price is $562.51 and its two-hundred day moving average price is $531.12. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $6.77 EPS. Equities analysts expect that Lockheed Martin Co. will post 26.94 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced 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 is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.57%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is 47.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LMT shares. Barclays upped their price objective on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. UBS Group increased their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research note on Tuesday, September 3rd. Bank of America reaffirmed a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. Finally, Susquehanna reduced their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

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.