B. Riley Wealth Advisors Inc. Has $7.42 Million Stake in Lockheed Martin Co. (NYSE:LMT)

B. Riley Wealth Advisors Inc. trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 22.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,503 shares of the aerospace company's stock after selling 3,540 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Lockheed Martin were worth $7,420,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of Montreal Can increased its holdings in shares of Lockheed Martin by 2.1% during the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company's stock worth $382,498,000 after purchasing an additional 13,253 shares during the period. Hilltop Holdings Inc. increased its stake in Lockheed Martin by 79.9% during the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company's stock valued at $7,054,000 after acquiring an additional 5,361 shares during the period. Old West Investment Management LLC increased its stake in Lockheed Martin by 6.6% during the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company's stock valued at $15,569,000 after acquiring an additional 1,643 shares during the period. Empower Advisory Group LLC raised its holdings in Lockheed Martin by 9.1% in the 3rd quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company's stock valued at $12,870,000 after acquiring an additional 1,843 shares in the last quarter. Finally, Buck Wealth Strategies LLC bought a new stake in shares of Lockheed Martin in the 2nd quarter worth approximately $6,611,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LMT shares. Bank of America reiterated a "buy" rating and set a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. Citigroup raised their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Wells Fargo & Company lowered their price target on Lockheed Martin from $602.00 to $543.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Finally, Barclays boosted their price target on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $612.29.

Lockheed Martin Stock Down 0.4 %

Shares of NYSE LMT traded down $1.93 during mid-day trading on Friday, hitting $494.65. The company had a trading volume of 990,249 shares, compared to its average volume of 1,083,834. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The company has a market capitalization of $117.25 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 4.13 and a beta of 0.46. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The firm has a 50-day simple moving average of $552.79 and a two-hundred day simple moving average of $532.44.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $17.10 billion for the quarter, compared to analysts' expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business's revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.77 EPS. On average, equities analysts expect that Lockheed Martin Co. will post 26.88 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is an increase 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 yield of 2.67%. Lockheed Martin's dividend payout ratio (DPR) is currently 47.79%.

Lockheed Martin Company 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.