Bedell Frazier Investment Counselling LLC Has $16.38 Million Stake in Lockheed Martin Co. (NYSE:LMT)

Bedell Frazier Investment Counselling LLC lessened its stake in Lockheed Martin Co. (NYSE:LMT - Free Report) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,024 shares of the aerospace company's stock after selling 1,110 shares during the period. Lockheed Martin comprises about 3.9% of Bedell Frazier Investment Counselling LLC's investment portfolio, making the stock its 3rd largest position. Bedell Frazier Investment Counselling LLC's holdings in Lockheed Martin were worth $16,382,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in LMT. Mount Yale Investment Advisors LLC raised its holdings in shares of Lockheed Martin by 15.1% during the first quarter. Mount Yale Investment Advisors LLC now owns 1,636 shares of the aerospace company's stock valued at $744,000 after buying an additional 215 shares during the last quarter. Waverly Advisors LLC boosted its position in Lockheed Martin by 168.3% during the 1st quarter. Waverly Advisors LLC now owns 3,839 shares of the aerospace company's stock worth $1,747,000 after acquiring an additional 2,408 shares during the period. Industrial Alliance Investment Management Inc. grew its stake in shares of Lockheed Martin by 3.3% in the first quarter. Industrial Alliance Investment Management Inc. now owns 940 shares of the aerospace company's stock worth $428,000 after purchasing an additional 30 shares in the last quarter. Whalerock Point Partners LLC grew its position in Lockheed Martin by 13.7% in the 1st quarter. Whalerock Point Partners LLC now owns 8,486 shares of the aerospace company's stock valued at $3,860,000 after buying an additional 1,022 shares in the last quarter. Finally, Oxford Wealth Group LLC bought a new stake in shares of Lockheed Martin during the 1st quarter worth about $943,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 4.4 %

Shares of NYSE LMT traded down $24.02 during mid-day trading on Monday, reaching $518.20. The company had a trading volume of 1,867,642 shares, compared to its average volume of 1,069,334. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The company has a market capitalization of $122.83 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 4.43 and a beta of 0.49. The stock has a fifty day moving average of $573.12 and a two-hundred day moving average of $527.79.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data 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. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion during the quarter, compared to analysts' expectations of $17.38 billion. During the same quarter last year, the firm earned $6.77 earnings per share. The business's revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.89 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. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.55%. This is an increase from Lockheed Martin's previous quarterly dividend of $3.15. Lockheed Martin's dividend payout ratio (DPR) is currently 45.62%.

Analyst Ratings Changes

Several brokerages recently commented on LMT. Deutsche Bank Aktiengesellschaft boosted their target price on Lockheed Martin from $600.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Barclays lifted their target price on Lockheed Martin from $505.00 to $565.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 29th. Melius Research upgraded shares of Lockheed Martin to a "strong-buy" rating in a research report on Tuesday, September 3rd. StockNews.com lowered shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, October 23rd. Finally, Citigroup upped their price target on Lockheed Martin from $570.00 to $700.00 and gave the company a "buy" rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $611.00.

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.