Verity & Verity LLC Has $17.26 Million Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Verity & Verity LLC lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 17.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,523 shares of the aerospace company's stock after selling 6,279 shares during the quarter. Lockheed Martin comprises about 1.7% of Verity & Verity LLC's investment portfolio, making the stock its 24th biggest holding. Verity & Verity LLC's holdings in Lockheed Martin were worth $17,258,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LMT. OneAscent Financial Services LLC bought a new stake in Lockheed Martin in the third quarter worth about $354,000. Caprock Group LLC lifted its stake in Lockheed Martin by 6.5% during the third quarter. Caprock Group LLC now owns 7,249 shares of the aerospace company's stock valued at $4,238,000 after purchasing an additional 440 shares during the last quarter. Lindenwold Advisors INC boosted its holdings in Lockheed Martin by 0.9% during the third quarter. Lindenwold Advisors INC now owns 3,338 shares of the aerospace company's stock worth $1,951,000 after buying an additional 31 shares in the last quarter. Aviance Capital Partners LLC grew its position in Lockheed Martin by 0.3% in the third quarter. Aviance Capital Partners LLC now owns 15,718 shares of the aerospace company's stock worth $9,188,000 after buying an additional 53 shares during the last quarter. Finally, New England Asset Management Inc. increased its holdings in shares of Lockheed Martin by 1.0% in the third quarter. New England Asset Management Inc. now owns 18,060 shares of the aerospace company's stock valued at $10,557,000 after buying an additional 175 shares in the last quarter. Institutional investors own 74.19% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LMT shares. UBS Group raised their price objective on Lockheed Martin from $589.00 to $603.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on Lockheed Martin from $483.00 to $525.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 24th. Susquehanna reduced their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a "positive" rating for the company in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $611.00.

Lockheed Martin Stock Performance

Shares of LMT traded up $2.29 during mid-day trading on Tuesday, hitting $533.25. The company's stock had a trading volume of 935,750 shares, compared to its average volume of 1,063,896. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The stock's 50-day moving average is $574.83 and its two-hundred day moving average is $526.21. The firm has a market capitalization of $126.40 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 4.37 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business's quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the business posted $6.77 EPS. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed 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. 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 2.48%. 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%.

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.