Pallas Capital Advisors LLC Lowers Position in Lockheed Martin Corporation $LMT

Pallas Capital Advisors LLC trimmed its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 38.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,199 shares of the aerospace company’s stock after selling 1,369 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Lockheed Martin were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC lifted its position in shares of Lockheed Martin by 285.7% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock valued at $27,000 after buying an additional 40 shares during the last quarter. Grey Fox Wealth Advisors LLC bought a new stake in Lockheed Martin in the 3rd quarter valued at about $27,000. Mid American Wealth Advisory Group Inc. bought a new stake in Lockheed Martin in the 2nd quarter valued at about $28,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Lockheed Martin during the second quarter valued at about $29,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Lockheed Martin during the third quarter worth about $35,000. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

LMT has been the topic of several research reports. TD Cowen boosted their price target on shares of Lockheed Martin from $600.00 to $670.00 and gave the company a “hold” rating in a research report on Friday, January 30th. UBS Group lifted their price objective on shares of Lockheed Martin from $580.00 to $663.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. Sanford C. Bernstein restated a “market perform” rating and set a $654.00 target price on shares of Lockheed Martin in a research report on Friday, February 6th. Wall Street Zen lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 8th. Finally, DZ Bank lowered Lockheed Martin from a “buy” rating to a “hold” rating and set a $665.00 price objective on the stock. in a research note on Tuesday, February 3rd. Six research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has an average rating of “Hold” and a consensus price target of $612.50.

Lockheed Martin Price Performance

LMT stock opened at $649.18 on Wednesday. The firm has a 50 day simple moving average of $552.83 and a two-hundred day simple moving average of $497.97. The stock has a market cap of $149.36 billion, a PE ratio of 30.21, a P/E/G ratio of 1.18 and a beta of 0.23. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $656.34. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.09 and a quick ratio of 0.94.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Thursday, January 29th. The aerospace company reported $5.80 earnings per share for the quarter, missing the consensus estimate of $6.33 by ($0.53). Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The company had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter last year, the business posted $7.67 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 2nd will be given a dividend of $3.45 per share. The ex-dividend date is Monday, March 2nd. This represents a $13.80 annualized dividend and a dividend yield of 2.1%. Lockheed Martin’s dividend payout ratio is 64.22%.

Lockheed Martin Company Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.