Lockheed Martin Corporation $LMT Stock Sold by Villere ST Denis J & Co. LLC

Key Points

• Villere ST Denis cut its Lockheed Martin stake by 11.7% in the third quarter, selling 5,856 shares and retaining 44,100 shares valued at about $22.46 million.
• Lockheed Martin beat quarterly earnings and revenue estimates, with EPS of $7.97 and revenue of $20.71 billion; revenue rose 11.3% year over year.
• The company raised its quarterly dividend from $3.45 to $3.60 per share. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $647.

Villere ST Denis J & Co. LLC reduced its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 11.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,100 shares of the aerospace company's stock after selling 5,856 shares during the period. Lockheed Martin makes up about 2.3% of Villere ST Denis J & Co. LLC's investment portfolio, making the stock its 13th biggest holding. Villere ST Denis J & Co. LLC's holdings in Lockheed Martin were worth $22,458,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in LMT. Norris Financial Group LLC bought a new stake in Lockheed Martin in the first quarter valued at about $2,321,000. CX Institutional grew its position in shares of Lockheed Martin by 527.4% during the third quarter. CX Institutional now owns 18,415 shares of the aerospace company's stock worth $9,378,000 after acquiring an additional 15,480 shares during the last quarter. Talon Private Wealth LLC acquired a new stake in shares of Lockheed Martin in the 1st quarter worth about $3,743,000. Meeder Asset Management Inc. bought a new position in Lockheed Martin in the 2nd quarter worth about $11,036,000. Finally, OneDigital Investment Advisors LLC bought a new position in Lockheed Martin in the 2nd quarter worth about $4,796,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Up 3.9%

NYSE LMT opened at $589.48 on Tuesday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.26 and a quick ratio of 1.10. The company's 50 day simple moving average is $548.77 and its 200 day simple moving average is $569.67. Lockheed Martin Corporation has a 12 month low of $437.25 and a 12 month high of $692.00. The company has a market capitalization of $136.17 billion, a P/E ratio of 20.94, a PEG ratio of 1.26 and a beta of 0.07.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Thursday, October 22nd. The aerospace company reported $7.97 EPS for the quarter, beating the consensus estimate of $7.52 by $0.45. The business had revenue of $20.71 billion during the quarter, compared to analyst estimates of $20.48 billion. Lockheed Martin had a net margin of 8.23% and a return on equity of 83.41%. The business's quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $6.95 earnings per share. Equities research analysts expect that Lockheed Martin Corporation will post 30.66 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 1st will be issued a dividend of $3.60 per share. This is a positive change from Lockheed Martin's previous quarterly dividend of $3.45. This represents a $14.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, December 1st. Lockheed Martin's dividend payout ratio (DPR) is currently 49.02%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LMT. Robert W. Baird set a $700.00 price target on Lockheed Martin in a research report on Friday, July 24th. Jefferies Financial Group reissued a "hold" rating and set a $615.00 target price on shares of Lockheed Martin in a research note on Sunday, October 25th. Vertical Research upgraded shares of Lockheed Martin from a "hold" rating to a "buy" rating and set a $600.00 price objective on the stock in a research note on Wednesday, October 14th. JPMorgan Chase & Co. boosted their target price on Lockheed Martin from $620.00 to $665.00 and gave the stock a "neutral" rating in a report on Monday, October 26th. Finally, Bank of America restated a "neutral" rating and issued a $620.00 target price on shares of Lockheed Martin in a research report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $647.00.

About Lockheed Martin

Lockheed Martin Corporation is a global security and aerospace company headquartered in Bethesda, Maryland. Formed in 1995 through the merger of Lockheed Corporation and Martin Marietta, the company develops and produces advanced defense, aerospace, and technology systems for government and commercial customers.

Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Products and services include military aircraft such as the F-35 Lightning II, C-130 Hercules, and F-16 Fighting Falcon; missile-defense and precision-strike systems; helicopters and naval systems; command, control, communications, and intelligence technologies; satellites; space exploration systems; and other classified space and defense programs.

Lockheed Martin serves the U.S.

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