Smith Salley & Associates trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 4.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,420 shares of the aerospace company’s stock after selling 288 shares during the quarter. Smith Salley & Associates’ holdings in Lockheed Martin were worth $2,221,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Canton Hathaway LLC bought a new position in shares of Lockheed Martin in the third quarter valued at about $104,000. FTB Advisors Inc. raised its holdings in shares of Lockheed Martin by 142.6% in the second quarter. FTB Advisors Inc. now owns 359 shares of the aerospace company’s stock valued at $105,000 after buying an additional 211 shares during the last quarter. Fort L.P. bought a new position in shares of Lockheed Martin in the second quarter valued at about $116,000. FNY Investment Advisers LLC bought a new position in shares of Lockheed Martin in the second quarter valued at about $117,000. Finally, Quad Cities Investment Group LLC bought a new position in shares of Lockheed Martin in the second quarter valued at about $131,000. 78.02% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:LMT opened at $313.12 on Friday. The stock has a market cap of $88.12 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 2.19 and a beta of 0.89. Lockheed Martin Co. has a 1-year low of $283.21 and a 1-year high of $363.00. The company has a debt-to-equity ratio of 13.46, a current ratio of 1.11 and a quick ratio of 0.91.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.31 by $0.83. The firm had revenue of $14.32 billion during the quarter, compared to analysts’ expectations of $13.10 billion. Lockheed Martin had a return on equity of 2,680.55% and a net margin of 5.78%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business posted $3.24 EPS. As a group, sell-side analysts expect that Lockheed Martin Co. will post 17.68 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 3rd will be paid a $2.20 dividend. The ex-dividend date is Friday, November 30th. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.00. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.81%. Lockheed Martin’s dividend payout ratio is 60.02%.

Lockheed Martin announced that its Board of Directors has approved a share repurchase plan on Thursday, September 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the aerospace company to purchase up to 1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

LMT has been the subject of a number of research analyst reports. Credit Suisse Group lifted their price target on Lockheed Martin from $355.00 to $340.00 and gave the company a “neutral” rating in a report on Wednesday, July 25th. Goldman Sachs Group raised Lockheed Martin from a “neutral” rating to a “conviction-buy” rating and lifted their price target for the company from $391.00 to $394.00 in a report on Wednesday, October 24th. Zacks Investment Research cut Lockheed Martin from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Morgan Stanley set a $386.00 price objective on Lockheed Martin and gave the stock a “buy” rating in a report on Thursday, October 11th. Finally, UBS Group started coverage on Lockheed Martin in a report on Wednesday, August 15th. They set a “buy” rating and a $400.00 price objective for the company. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Lockheed Martin currently has a consensus rating of “Buy” and an average target price of $376.49.

In other news, VP Bruce L. Tanner sold 11,203 shares of the company’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $308.49, for a total value of $3,456,013.47. Following the completion of the sale, the vice president now directly owns 79,770 shares of the company’s stock, valued at approximately $24,608,247.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

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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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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