Acorn Creek Capital LLC Acquires New Shares in Lockheed Martin Co. (NYSE:LMT)

Acorn Creek Capital LLC purchased a new position in Lockheed Martin Co. (NYSE:LMT) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 401 shares of the aerospace company’s stock, valued at approximately $235,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Mattson Financial Services LLC bought a new position in shares of Lockheed Martin in the second quarter worth about $27,000. Sachetta LLC increased its stake in Lockheed Martin by 50.0% during 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 period. Wiser Advisor Group LLC increased its stake in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. bought a new position in Lockheed Martin during the first quarter valued at about $30,000. Finally, Stephens Consulting LLC increased its stake in Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 22 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LMT has been the topic of several analyst reports. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research note on Tuesday, September 3rd. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. UBS Group increased their price target on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Susquehanna increased their price target on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada increased their price target on Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $587.15.

Lockheed Martin Stock Down 1.0 %

Shares of LMT opened at $605.00 on Wednesday. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $614.62. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The firm has a market capitalization of $145.16 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 4.84 and a beta of 0.47. The business’s fifty day moving average price is $574.64 and its two-hundred day moving average price is $507.73.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same period last year, the company earned $6.73 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. On average, analysts predict that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is presently 48.30%.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.