True North Advisors LLC Has $316,000 Holdings in Lockheed Martin Co. (NYSE:LMT)

True North Advisors LLC cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 11.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 540 shares of the aerospace company’s stock after selling 67 shares during the quarter. True North Advisors LLC’s holdings in Lockheed Martin were worth $316,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Ameriprise Financial Inc. lifted its holdings in Lockheed Martin by 1.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after purchasing an additional 31,545 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Lockheed Martin by 14.9% during the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after buying an additional 180,074 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Lockheed Martin by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock worth $546,144,000 after buying an additional 119,052 shares during the last quarter. Wulff Hansen & CO. boosted its holdings in shares of Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after buying an additional 1,019,281 shares during the period. Finally, Capital Research Global Investors grew its stake in Lockheed Martin by 29.7% in the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after buying an additional 218,506 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on LMT. Bank of America reaffirmed a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Deutsche Bank Aktiengesellschaft increased their price target on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. TD Cowen raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday. JPMorgan Chase & Co. increased their target price on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $568.31.

Lockheed Martin Price Performance

LMT stock opened at $608.27 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The company’s fifty day simple moving average is $568.68 and its 200 day simple moving average is $502.34. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $611.59. The firm has a market cap of $145.95 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 4.66 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.73 EPS. On average, analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current 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 issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 48.30%.

Insider Activity at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by insiders.

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.