Bogart Wealth LLC Decreases Position in Lockheed Martin Co. (NYSE:LMT)

Bogart Wealth LLC reduced its holdings in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 11.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,655 shares of the aerospace company's stock after selling 2,579 shares during the period. Bogart Wealth LLC's holdings in Lockheed Martin were worth $11,490,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. CVA Family Office LLC raised its holdings in Lockheed Martin by 1.1% in the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company's stock valued at $905,000 after acquiring an additional 17 shares in the last quarter. Quad Cities Investment Group LLC boosted its stake in Lockheed Martin by 1.2% in the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company's stock worth $919,000 after purchasing an additional 19 shares in the last quarter. HTLF Bank grew its holdings in Lockheed Martin by 3.7% during the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company's stock worth $264,000 after acquiring an additional 20 shares during the last quarter. tru Independence LLC raised its position in Lockheed Martin by 2.5% in the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company's stock worth $386,000 after purchasing an additional 20 shares during the last quarter. Finally, Sachetta LLC boosted its holdings in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company's stock valued at $28,000 after acquiring an additional 20 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on LMT shares. Robert W. Baird increased their target price on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday. Royal Bank of Canada dropped their target price on Lockheed Martin from $675.00 to $665.00 and set an "outperform" rating on the stock in a report on Wednesday. Wells Fargo & Company increased their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 24th. Morgan Stanley lifted their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an "equal weight" rating in a research note on Friday, August 9th. Finally, Melius upgraded shares of 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lockheed Martin currently has an average rating of "Moderate Buy" and an average price target of $606.71.

Lockheed Martin Stock Down 1.2 %

Shares of NYSE:LMT traded down $6.89 during trading on Thursday, reaching $564.21. 1,101,718 shares of the stock traded hands, compared to its average volume of 1,054,898. The stock has a market cap of $135.38 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The stock has a 50-day moving average of $579.95 and a two-hundred day moving average of $513.50. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analysts' expectations of $17.38 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company's revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $6.77 EPS. As a group, sell-side analysts expect that Lockheed Martin Co. will post 26.68 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.34%. This is an increase from Lockheed Martin's previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin's dividend payout ratio is presently 48.30%.

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.